MobilityOne Advances Super Apps Joint Venture and Planned 1Shop Stake Disposal

MobilityOne (LSE:MBO) has announced progress on its proposed joint venture with Super Apps after Technology & Telecommunication Acquisition Corporation confirmed that all resolutions were approved at its extraordinary general meeting.

The approval marks another step forward in the planned business combination that forms part of MobilityOne’s agreement to dispose of a 60% stake in its 1Shop subsidiary and implement the related transaction structure.

As part of the arrangement, M1 Malaysia is expected to receive cash payments totalling RM60 million from Super Apps once the business combination is completed. MobilityOne has also committed to ensuring that 1Shop generates at least $125 million in revenue during 2026, or over another agreed reporting period.

To support this target, the company will transfer a portion of its existing electronic voucher operations into the 1Shop business. If the revenue milestone is achieved following completion of the merger, MobilityOne would also receive shares in TETE valued at RM20 million. All payments and share consideration remain contingent on the successful completion and timing of the merger transaction.

MobilityOne’s broader outlook continues to be affected by weak financial fundamentals, including ongoing losses, limited margins, negative equity and pressured cash flows. However, technical indicators provide some positive signals, with the share price trading above major moving averages and a positive MACD suggesting strong momentum. Valuation metrics remain mixed, reflecting a negative price-to-earnings ratio and the absence of a dividend yield.

More about MobilityOne

MobilityOne Limited is a Malaysian provider of e-commerce infrastructure and digital payment solutions. The company focuses on the virtual distribution of mobile prepaid reloads and bill payment services, connecting with banks, telecom operators, utilities, government agencies and transportation providers. Its payment services are delivered through mobile wallets, e-commerce platforms, ATMs, kiosks and other banking channels.