Animoca Brands delays IPO plans, suspends merger talks with Currenc

Animoca Brands and Currenc Group suspended talks on a reverse merger that would have listed the digital asset investment company on the Nasdaq, citing incompatible timelines.The proposed deal, first discussed late last year, would have given Hong Kong-based Animoca a 95%stake in the combined company.Animoca said it remained committed to pursuing a listing on a major public exchange, while Currenc shares fell 0.93% in after-hours trading Monday.Animoca Brands suspended discussions for a proposed reverse merger with Currenc Group Inc. (CURR), which would have seen the digital asset investment company secure a Nasdaq listing.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.12345678910