Basata aims to raise stake in Jordan’s MadfoatCom to 49%

Updated 9/1/2024 8:09:00 AM
Basata aims to raise stake in Jordan’s MadfoatCom to 49%

Arab Finance: Basata Holding for Financial Payments is planning to increase its stake in the Jordanian fintech firm MadfoatCom to 49%, sources in the know told Al Mal News.

This would follow Basata’s anticipated acquisition of 24% in MadfoatCom as a first step.

In March, Basata announced that its binding offer submitted with Jordan Kuwait Bank to acquire a 30% stake in MadfoatCom was accepted.

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