Business news for the stock market
Valens Holding AG: Valens Holding AG's subsidiary acquires Flock Members Club AB
Frankfurt am Main
Valens Holding AG is pleased to announce, that it's subsidiary Valens Bank Ltd., has acquired the Swedish entity Flock Members Club AB
The Flock Members Club will act as a members club for early stage investors into IPOs and Reverse Takeovers of publicly traded companies. The division will operate under the brand name 'The Flock' and is expected to launch its operations at the end April 2020.
'The Flock' has at the same time acquired two existing membership organizations which shall be incorporated into the new operations. These organization hold a broad customer base of more than 240.000 individuals, thereby bringing the business well above the critical mass needed to hopefully succeed. Customers will be offered appropriate investment opportunities in a compliant manner.
Each of the 240,000 individuals will be offered a Valens Pay account which will be a second source of revenue to the group from this transaction.
"The management of Valens Holding AG are excited about the new acquisition and we see strong synergies between 'The Flock' and the Valens Group's other divisions. We are aiming that this will enhance shareholder value over time", said Mr. James Holmes, Chairman of the Supervisory Board.