YuuZoo issues 15 million shares at S$0.193 apiece to fund acquisition
MAINBOARD-listed social e-commerce firm YuuZoo has issued 15 million new ordinary shares to pay for its acquisition of a stake in a games company, it said in a Singapore Exchange filing on Tuesday before the market opened.
Issued at S$0.193 apiece, these shares were worth about S$2.90 million in total, it noted.
This issuance was for YuuZoo's acquisition of a 30 per cent stake in Infocomm Asia Holdings (IAH), which distributes online and box games.
The total consideration it paid via share issuance on Tuesday was higher than the S$2.39 million worth of shares - 15 million shares at S$0.159 each - that YuuZoo had said in January it would pay for the deal.
YuuZoo shares closed S$0.005 down at S$0.22 on Monday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Cordlife served letter of demand, notice of claim from customers
Indonesia’s Vidio is aiming to double subscribers ahead of IPO
DBS Q1 profit up 15% to S$2.95 billion; interim dividend at S$0.54 per share
KKR’s earnings rise 20% on strong management fees, annuities business
Stocks to watch: DBS, Olam, Parkway Life Reit, Japfa, CSE Global
Mastercard’s profit beats as consumer spending defies inflation worries