Singapura Finance Limited (SFL) (SGX:S23) announced on 16 October that it will be subscribing for shares in MatchMove PowerBank (S) Pte. Ltd (PowerBank). SFL believes that this investment is an “opportunity for the company to acquire a strategic stake in a business that has possible significant long-term growth potential” and could provide synergistic opportunities for it to achieve growth in the financial services sector. Under the agreement, SFL will provide US$3 million in financing (in the form of US$1 million in equity financing and US2 million in convertible debt financing to support the establishment and growth of PowerBank. In return, they will receive 1,822,966 Class A ordinary shares in PowerBank, approximately 10% of the share capital of PowerBank on a fully-diluted bases. The convertible debt is convertible to Class A ordinary shares subject to the conditions agreed with PowerBank. Equity financing is the process of raising capital through the sale of shares....