FTIL rallies over 5% on SMX stake sale to ICE Singapore

Mumbai – Shares of Financial Technologies (FTIL) were in action after its wholly-owned subsidiary Financial Technologies Singapore (FTSPL) sold 100 per cent of its equity ownership in SMX to ICE Singapore Holdings Pte for $150 million.

The transaction was approved by the Board of Directors of FTSPL and FTIL on November 18, 2013 with signing of definitive agreements and is subject to certain customary closing conditions and approvals.

FTIL will primarily utilise the amount towards repayment