Touch Ventures Ltd. (AU:TVL) has released an update.
Touch Ventures Ltd reports a decline in their Net Tangible Asset (NTA) backing from A$109.7m to A$84.4m as of June 2024, with cash making up around 68% of this value. The company has chosen not to participate in Sendle’s current financing round and has written down its investment in Sendle to A$1.8m. Additionally, Touch Ventures has decided against further investment in Postpay, leading to a write-down of its investment in the company to nil, amid challenging market conditions and uncertainties in raising capital.
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