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[email protected] (SYME) Share Price Plunges Despite Positive Year-End Update

Updated 31 Dec 2020
Supply@ME (LON: SYME)

Shares of [email protected] (LON: SYME) are falling on the last day of the year despite a seemingly positive year-end update on its first securitisation issuance, which was co-arranged and distributed by StormHarbour.

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The UK-based fintech company said they and StormHarbour have now successfully completed the legal documentation, process definition and operating structure for its repeatable and scalable securitised investment product and eligible client companies are ready to implement the inventory monetisation process.

At the end of November, the company revealed that one of the objectives of this period of work on the Open-Funding securitisation model was to create a new Inventory Monetisation asset class that it has now completed.

It now enables SYME to programme a series of securitisation issuances that, together with a cornerstone investment from its Captive Bank operation, should provide access to a deeper, ongoing pool of capital.

Looking ahead, SYME said that early in the new year, eligible companies will receive formal communication disclosing the identity of the Inventory Funder and the time-table to execute their individual inventory monetisation transactions.

Following the update, shares of SYME fell over 14%. They have now regained some of those losses and are trading at 0.622p, down 4.85%.