By Jaime Llinares Taboada

Shares in Supply@Me Capital PLC rose Tuesday after the company reached an arranging agreement with Intesa Sanpaolo Private Bank (Suisse) Morval SA to structure the funding for SYME's Shariah-compliant platform.

The fintech company said that the first transactions to benefit from ISPB Morval's arranging activities relate to its portfolio of clients based in the Middle East and North Africa region.

"After many months of hard work, we have aligned the core components of the first inventory monetization transactions in the MENA region--a strong pipeline of clients and a well-connected bank, which will leverage the preliminary approvals got from the Shariah scholar board," Chief Executive Alessandro Zamboni said.

Shares at 0917 GMT were up 12% at 0.18 pence.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

November 23, 2021 04:46 ET (09:46 GMT)

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