PeakBayou acquires majority stake in Singapore-listed Gaylin for S$68m
MAINBOARD-LISTED rigging solutions company Gaylin Holdings said on Monday that investment holding company PeakBayou has acquired a majority stake in the company for some S$68 million.
PeakBayou, a wholly-owned unit of private equity fund, ShawKwei Asia Value Fund 2017, has agreed to subscribe for some 1.36 billion new ordinary shares in Gaylin at S$0.05 apiece.
The subscription would represent about 75.64 per cent of the enlarged share capital of Gaylin.
Gaylin said it would use the proceeds entirely for general working purposes and to strengthen its capital base.
ShawKwei Asia Value Fund 2017 is managed by ShawKwei & Partners, a private equity fund manager investing in middle-market manufacturing and services companies across Asia.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention