SBI Ventures Asset signed a letter expressing its intention to invest in Coinhako and acquire shares from existing shareholders to gain controlling interest, thereby consolidating Coinhako into SBI Holdings' financial statements.
Information released by SBI Holdings on February 13th indicates that the group is taking another step into the cryptocurrency sector through a planned acquisition of a majority stake in Coinhako.
- SBI Ventures Asset signs LOI to Capital in Coinhako.
- Purchase shares from existing shareholders to acquire a majority stake.
- The deal is still awaiting structural approval and legal authorization.
The deal between SBI Ventures Asset and Coinhako
SBI Ventures Asset has signed a letter of intent with Coinhako to inject Capital and acquire shares to achieve majority ownership, thereby bringing Coinhako into the scope of consolidated financial reporting.
According to SBI Holdings' announcement, the implementing entity is its subsidiary SBI Ventures Asset. The plan consists of two parts: (1) injecting Capital into Coinhako and (2) purchasing shares from existing shareholders. The goal is to acquire a majority stake and integrate Coinhako into the group's financial statements.
The announcement did not specify the expected Capital amount, target ownership percentage, or valuation. The confirmed certainty lies in the majority Stake and the requirement for consolidated accounting, indicating this is not just a minority investment in the cryptocurrency sector.
Completion requirements and next steps
The transaction is subject to finalizing structural details and receiving regulatory approval.
SBI Holdings stated that the transaction is subject to structural details and regulatory approvals. This means the letter of intent is not a final binding agreement; terms such as voting rights, share purchase plan, and investment structure may still change before completion.
Until the legal approvals are passed and the transaction structure is confirmed, it is still uncertain whether SBI Ventures Asset can officially acquire a majority stake and when Coinhako will be incorporated into the financial statements.
