Findi Secures Cash Injection From Leading Indian Investment Group
Findi Secures Cash Injection From Leading Indian Investment Group
Findi Limited (ASX:FND) Chairman Nicholas Smedley discusses the details that its Indian subsidiary TSI has successfully raised $37.6m via a placement to leading Investment group, Piramal Alternatives.
Findi Limited（澳大利亞證券交易所股票代碼：FND）董事長尼古拉斯·斯梅德利討論了其印度子公司TSI通過向領先的投資集團Piramal Alternatives配售成功籌集了3,760萬美元的細節。
Paul Sanger:
保羅·桑格：
I am Paul Sanger for the Finance News Network. And today I'm talking with Findi Limited, (ASX:FND), and they have a market cap of around $40m. Findi provides bespoke payment services for one of the world's largest developing markets while being part of the digital banking revolution where we have banking without banks, payments without cards, and customers able to transact in a fast and flexible way from any location. We welcome back Findi Chairman Nicholas Smedley. Nicholas, many thanks for your time today.
我是金融新聞網的保羅·桑格。今天我正在與Findi Limited（澳大利亞證券交易所股票代碼：FND）談話，他們的市值約爲4000萬美元。Findi爲世界上最大的發展中市場之一提供定製的支付服務，同時也是數字銀行革命的一部分，在數字銀行革命中，我們的銀行業務無需銀行，無需信用卡付款，客戶可以在任何地方以快速靈活的方式進行交易。我們歡迎芬迪董事長尼古拉斯·斯梅德利回來。尼古拉斯，非常感謝你今天抽出時間。
Nicholas Smedley:
尼古拉斯·斯梅德利：
Thank you very much.
非常感謝。
Paul Sanger:
保羅·桑格：
So, Nicholas, the company has just announced that your Indian subsidiary, TSI India, has successfully raised $37.6 million via placement of Convertible Debentures that are compulsorily convertible to equity at IPO. This is a material announcement for the company. Can you tell us about the transaction and some of the counterparties involved, please?
因此，尼古拉斯，該公司剛剛宣佈，您的印度子公司TSI India已通過配售可轉換債券成功籌集了3,760萬美元，這些債券在首次公開募股時必須轉換爲股權。這是該公司的重大公告。你能告訴我們這筆交易以及所涉及的一些交易對手嗎？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Yeah. No, it's a significant milestone for us, it really sets us up to deliver on our medium-term growth objective for both inorganic and organic expansion, in both the digital payments and ATM network in India. The Piramal, who has conducted almost six months of due diligence on us, is one of a large investment house in India, their parent company has over US$10 billion in net assets. The Alternatives Fund that invested in us has US$1.5 billion under management. And most importantly, the specific fund that invested in us is also backed by one of Canada's largest pension funds, which has about $440 billion under management. So great endorsement from institutional grade investors.
是啊。不，這對我們來說是一個重要的里程碑，它確實爲我們在印度的數字支付和自動櫃員機網絡中實現無機和有機擴張的中期增長目標做好了準備。Piramal對我們進行了近六個月的盡職調查，是印度一家大型投資機構之一，其母公司的淨資產超過100億美元。投資於我們的另類基金管理着15億美元。最重要的是，投資於我們的特定基金還得到了加拿大最大的養老基金之一的支持，該基金管理着約4,400億美元。機構級投資者對此給予了極大的支持。
Paul Sanger:
保羅·桑格：
And how was the equity valuation determined ahead of the capital raising?
在籌集資金之前，股票估值是如何確定的？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Was based on effectively a 10 times multiple on last year's earnings, which derived a number of $150-odd million, pre-IPO, pre-money. And $190 million post-money. And if you would like to do the Indian conversion, that's 813 crore, is what the valuation was determined as.
實際上是根據去年收益的10倍來計算的，首次公開募股前收益的收益超過1.5億美元。還有1.9億美元的後付款。而且，如果你想對印度進行轉換，那就是8.13億美元的估值。
Paul Sanger:
保羅·桑格：
And once listed, what would be the anticipated percentage holding of the parent Findi in TSI?
一旦上市，母公司Findi在TSI的預期持股百分比將是多少？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Yeah. So as it stands at the moment, with the cap table and commitments that we have, about 16.7% is the effective conversion amount for equity holding for Piramal at IPO.
是啊。因此，就目前而言，根據我們的上限表和承諾，Piramal在首次公開募股時股權的有效轉換金額約爲16.7％。
Paul Sanger:
保羅·桑格：
And how will the funds be used going forward?
未來將如何使用這些資金？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Yeah. We'll be using these funds to basically give us a significant balance sheet to enable us to look at other contracts for brown label ATM, accelerate our white label ATM deployment once we receive that license, which we're expecting before Christmas. And then there are also other acquisition targets in both the digital space and the white label ATM space that are logical for us with this war chest.
是啊。我們將使用這些資金基本上爲我們提供可觀的資產負債表，使我們能夠研究棕色標籤自動櫃員機的其他合同，在我們收到該許可證後加快白標自動櫃員機的部署，我們預計將在聖誕節前這樣做。此外，數字空間和白標自動櫃員機領域還有其他收購目標，對於我們來說，有了這個戰爭儲備金是合乎邏輯的。
Paul Sanger:
保羅·桑格：
And, Nicholas, to finish up, would I be correct in saying that Findi is the only ASX company that has direct exposure to India?
而且，尼古拉斯，總而言之，我說芬迪是唯一一家在印度直接投資的澳大利亞證券交易所公司，這是否正確？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Yes. As far as we're aware, Findi is the only 100% pure play Indian exposure for the financial services market in Australia. So if Australian investors want exposure to India, they need to go through Findi.
是的。據我們所知，Findi是澳大利亞金融服務市場上唯一的100％純印度投資者。因此，如果澳大利亞投資者想投資印度，他們需要通過Findi。
Paul Sanger:
保羅·桑格：
Nicholas, there seems to be a massive discrepancy between what an entity in India just paid for an ownership share in TSI versus where your stock is currently trading on the ASX. Would you agree with that?
尼古拉斯，印度一家實體剛剛爲TSI所有權股份支付的費用與您的股票目前在澳大利亞證券交易所的交易價格之間似乎存在巨大差異。你會同意嗎？
Nicholas Smedley:
尼古拉斯·斯梅德利：
I'd agree with that wholeheartedly. Just recently, Red Leaf Securities last week actually put out a broker research report on Findi Limited, and they had a price target of $3.61. So you can see that it's starting to be valued at more appropriate levels. But the share price now, there's a big disconnect, it's a four to one compared to the price that Piramal paid at the moment. And obviously we see more growth ahead.
我會全心全意地同意的。就在最近，紅葉證券上週實際上發佈了一份關於Findi Limited的經紀商研究報告，他們的目標股價爲3.61美元。因此，你可以看到它的估值已開始處於更合適的水平。但是現在的股價存在很大的脫節，與皮拉馬爾目前支付的價格相比，是四比一。顯然，我們預計未來會有更多的增長。
Paul Sanger:
保羅·桑格：
Nicholas Smedley, many thanks for your time today.
尼古拉斯·斯梅德利，非常感謝你今天抽出時間。
Nicholas Smedley:
尼古拉斯·斯梅德利：
Thank you very much.
非常感謝。
Ends
結束
