InvestSMART

Ovanti Limited (ASX:OVT)

ALERT: Price-sensitive ASX Announcement for OVT
Current share price for OVT : $0.001 -0.001 (-50%)+
Announcement
Release
20 Aug 2026 10:06AM
Price at Release
$0.002
Full Release
download
Summary
Ovanti Limited (ASX: OVT) has announced a strategic decision to completely exit the Buy Now, Pay Later (BNPL) market across all jurisdictions following a thorough review by the company's management. This decision includes halting previously planned launches in Asia and discontinuing all BNPL operations globally. The company will focus on its established iSentric business, which generates significant revenue in Asia, particularly in the Southeast region. This strategic shift aims to capitalize on immediate revenue-generating opportunities and substantial cost reductions, including reductions in staff and consultant expenses primarily linked to the former United States operations that are under Chapter 7 bankruptcy proceedings. Additionally, Ovanti has initiated formal legal proceedings against the former CEO of its U.S. BNPL segment. This move signifies a major reset for the company to concentrate on its core operations and revenue growth in the Asian markets.
Key Points
  • Ovanti Limited exits BNPL globally.
  • Focus shifts to iSentric operations in Southeast Asia.
  • Substantial cost reductions implemented.
  • U.S. BNPL entity under Chapter 7 bankruptcy.
  • Legal proceedings initiated against former U.S. BNPL CEO.
  • Aim to capitalize on revenue-generating opportunities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.