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AMTD Digital to acquire controlling stake in Singapore's FOMO Pay

Hong Kong's AMTD Digital, the digital finance platform arm of AMTD Group Company Ltd., agreed to acquire a controlling stake in Singapore-based digital payment solution provider FOMO Pay.

The transaction will involve a combination of share swap and cash for investment, according to a July 6 release. Other details of the deal were not disclosed.

After the acquisition, FOMO Pay will become a key member company within AMTD Digital. The acquisition remains subject to the approval of the Monetary Authority of Singapore.