KinerjaPay Corp (fka KPAY)

[Dreemers]

$100 MILLION INVESTMENT
Shares of KinerjaPay have started surging on the confirmation that KinerjaPay is closing in on a $100 million investment from PT. Investa Wahana. The investment could not have a come at a better time as KinerjaPay is plotting a transformative year as it moves to launch its P2P platform in Indonesia. The management also intends to invest in other high growth areas in some of the world’s fastest-growing economies.

Under the terms of the agreement, the company is to issue $200 million with of preferred stock convertible at $1.80 a share. The investment is also subject to a 9.99% beneficial ownership limitation provision.

The Correspondent Bank of the recipient bank is currently processing the $100 million investment. Upon clearance, the amount should reflect in a week.

In addition to the $100 million investment, KinerjaPay has also completed the filling of documents for its Commissioner and directors, a requirement for it to secure Peer-to-Peer license for its wholly owned subsidiary in the country.