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- Frontier Digital Ventures (FDV) is eyeing off a capital raise, after announcing plans to restructure its business into three seperate groups
- FDV announced it will restructure its operating companies along geographical lines, creating FDV LATAM, FDV Asia and FDV MENA
- The restructure of the online marketplace owner is still subject to ongoing legal, accounting and taxation advice
- The company is also expected to release details of its proposed equity raise on or before Friday, the last day the trading halt is in effect
- Company shares last traded at $1.58 each
Frontier Digital Ventures (FDV) is eyeing off a capital raise, after announcing plans to restructure its business into three separate groups.
FDV announced last month that it would restructure its operating companies along geographical lines, creating FDV LATAM, FDV Asia and FDV MENA.
FDV Asia would cover its Asian businesses such as Hoppler and AutoDeal, FCV LATAM will cover its South American companies such as InfoCasas, while FDV MENA will cover Europe and Africa stores like Avito.
Explaining the decision to break up its operations, FDV stated it would “improve operational efficiencies, increase organic and inorganic growth opportunities, enhance management culture and accountability and strengthen FDV’s regional presence”.
Restructuring the online marketplace owner is still subject to ongoing legal, accounting and taxation advice, with more information to be released to investors in the coming months.
The company is also expected to release details of its proposed equity raise on or before Friday, December 17.
That’s the last day the company’s trading halt will remain in effect.
Company shares last traded at $1.58 each.
