Animoca Brands delays IPO plans, suspends merger talks with Currenc

Animoca Brands suspended discussions for a proposed reverse merger with Currenc Group Inc. (CURR), which would have seen the digital asset investment company secure a Nasdaq listing.

The two companies decided the proposed timeframe to finalize the transaction didn’t align with their respective goals, Animoca announced on Tuesday .

Talks between Animoca and Currenc kicked off late last year , with plans for the former to own 95% of the merged company.

Hong Kong-based Animoca said it “remains fully committed” to listing on a major public exchange, with co-founder Yat Siu adding it will “continue to pursue optimal routes” to a public listing.

Animoca Brands’ portfolio spans decentralized finance (DeFi), AI, non-fungible tokens (NFTs) and gaming, with advisory services forming an increasing chunk of its revenue stream in recent years.

Currenc shares closed at $3.23 on Monday, 1.25% higher on the day, before dropping 0.93% in after-hours trading.

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