Insurer Great Eastern invested in Axiata Digital’s e-wallet platform at a $320m valuation, with the proceeds to go to expanding the latter's presence in Asia.

Great Eastern, the insurance arm of Singapore-headquartered banking firm OCBC, agreed to pay $70m for a 21.9% stake in Malaysia-based telecommunications firm Axiata’s newly formed financial technology subsidiary, Boost, yesterday. Axiata Digital, the digital services subsidiary of Axiata, retains a majority stake in Boost. The transaction is set to close in the coming months, pending…

The rest of this content is only accessible to Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.