You are here

WE Holdings to buy sand supplier for S$25m

Company also plans to issue S$25 million of three-year convertible bonds to partly fund the purchase

WE executive chairman and managing director Terence Tea said in an interview on Wednesday that Hua Kai was one of the largest sand suppliers in Singapore and will likely account for more than half of WE's group revenue if the deal goes through.


WE Holdings has yet another acquisition deal on the table and another potentially dilutive plan to fund it as well.

The target this time is marine sand supplier Hua Kai, which will cost WE S$25 million if certain balance sheet and profit targets are met.

To fund