Business briefing

Businessman buying stake in China Kunda

BUSINESSMAN Ang Kok Teong is acquiring a 50.6 per cent stake in China Kunda Technology Holdings. He has entered into a sale and purchase agreement with Ching Ka Lun, Liu Zhi Yuan, Li Jie Hua, Good Moral Technology, China Hongda Holdings and Cherry Equity Partners to acquire 178.26 million shares at S$0.0729 per share. This represents a 65.68 per cent premium over the last transacted price of S$0.044 per share on Sept 3. Once the pre-conditions of the deal are satisfied, a general offer will be launched.

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