Shares of First Global Data Ltd (TSXV: FGD), engaged in financial services technology and consumer-to-consumer money transfer services, recorded over 42.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. FGD was among the top performers in Canadian technology sector after skyrocketing 80.0% and closed at C$0.18 Monday, while recording significant trading volumes of 351,000 shares. Recently, FGD announced that it has entered into a non-binding letter of intent for acquisition of LTP Financial Inc. According to the terms of LOI, the corporation has agreed to acquire all of the issued and outstanding securities of LTP in exchange for the issuance of 26 million common shares of the corporation. During the past 5-trading sessions, FGD gained 80.0% with daily average trading volumes of 106,843 shares, while the stock accumulated 125.0% during the past one month with daily average trading volumes of 39,435 shares. The stock is up 125.0% year-to-date.
Company Description:
First Global Data Ltd (TSXV: FGD) is an Ontario company whose core focus is the delivery of International Money Remittances, Mobile Payments, and Mobile Financial Services Technology.
1-Year Stock Chart:
Source: Bloomberg
