MME 3.02% $1.45 moneyme limited

MoneyMe (ASX:MME) posts half-yearly profit while holding off takeover bid

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    • MoneyMe (MME) is up on the ASX this morning after revealing record loan originations over a profitable first half of the 2021 financial year
    • The digital loan specialist today revealed $114 million in originations over the half-year — 21 per cent higher than the same period in 2019
    • Moreover, MoneyMe said the run rate for March 2021 quarter originations alone is currently at around $90 million
    • MoneyMe posted a $1.3 million profit in the half-year despite COVID-19-induced challenges and important investment into its core technology
    • On top of this, the company said it received an unsolicited and confidential takeover proposal from a "very credible and significant third party "While MoneyMe ultimately declined the offer, it claims the bid implied an equity value for its business at a "significant premium" to its current share price
    Read the full article on The Market Herald here.
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