Currenc Group Reinstates Tranglo Acquisition Agreement

SINGAPORE, Oct. 30, 2026 /CourierPR/ -- Currenc Group Inc., a provider of artificial intelligence (AI) solutions to financial institutions, has announced the reinstatement of a share purchase agreement (SPA) and an agreement in principle for the proposed 100% acquisition of Tranglo Sdn. Bhd. for US$666,666,666.67. The agreement, which was initially set to expire on September 30, 2026, has been extended to March 31, 2027, providing a new timeline for the transaction.

The reinstatement and amendment letter, dated October 29, 2026, effectively reactivates the original SPA, which had been terminated due to the non-satisfaction of certain closing conditions. Seamless Group Inc., a wholly owned subsidiary of Currenc Group, and New Margin Holding Limited have agreed to pursue the full acquisition of Tranglo, a cross-border payment hub facilitating international transactions for businesses and financial institutions.

Under the terms of the reinstated SPA, New Margin has agreed to acquire 100,465 ordinary shares of Tranglo, representing 60% of its issued share capital, for US$400 million. The purchase price is structured with US$200 million payable at closing and US$200 million payable within 90 days after closing. The SPA had previously terminated automatically when the closing conditions were not satisfied or waived by the initial deadline.

The proposed acquisition includes the settlement of a judgment debt. RMA, previously exercising tag-along rights in respect of its 66,977 ordinary shares, has agreed to sell its shares to New Margin. The transaction would see New Margin acquire 100% of Tranglo, with approximately US$400 million attributable to Seamless’s entire 60% interest and approximately US$266.7 million attributable to RMA’s 40% interest. These amounts are before any deductions for Seamless’s judgment debt, which is currently US$23,952,480.00, plus late payment charges and certain costs.

Founded in 1999, New Margin Ventures, the private equity firm behind New Margin Holding Limited, manages over RMB40 billion in assets and has invested in more than 300 companies, with approximately 100 portfolio companies having completed initial public offerings or strategic exits. The transaction remains subject to the execution and implementation of a tripartite agreement among Seamless, New Margin, and RMA, as well as the cooperation and agreement of RMA, where required.

Currenc Group’s Founder, Executive Chairman, and Chief Executive Officer, Alex Kong, expressed satisfaction with the reinstatement of the SPA and the pathway toward a potential full acquisition.

The transaction is subject to satisfaction or waiver of the applicable conditions, including required regulatory approvals and third-party consents. Completion of the proposed 100% acquisition is additionally subject to the execution and implementation of the tripartite agreement and any other required definitive documentation. There can be no assurance that the transaction will be completed on the terms or timetable described, or at all.