The acquisition consideration will be settled through a combination of newly issued shares, with Bank Zero shareholders owning approximately 12% of Lesaka Platinum (LSP) fully diluted shares upon completion.
Additionally, the deal includes up to ZAR 91 million ($5.1 million) in cash.
Lesaka Holdings Limited (LSK) expects the transaction to be accretive to its shareholders.
Bank Zero is anticipated to be profitable in the fiscal year following the transaction’s completion.
Lesaka Holdings Limited (LHC) Chairman Ali Mazanderani described the acquisition as a transformative event, enabling the company to enhance service to consumers, merchants, and enterprise clients by integrating a trusted neobank capability into its fintech platform.
He also welcomed the Bank Zero team as partners in Lesaka’s journey.
