Animoca Brands delays IPO plans, suspends merger talks with Currenc
Animoca Brands has suspended merger talks with Currenc and delayed its IPO plans, citing a misalignment in goals. The company remains focused on pursuing a public listing while continuing to manage its diverse portfolio in DeFi, AI, and gaming.
Why it matters
The delay reflects the ongoing volatility and strategic shifts within the crypto and blockchain industry as firms navigate public market requirements.
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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