Dymon Asia to raise stake in Challenger to 14.9% for S$32.8m

Singapore

CHALLENGER Technologies' shares jumped on Wednesday (Oct 13) after it said Dymon Asia will spend S$32.8 million to raise its stake in the electronics retailer to 14.9 per cent from 1 per cent.

The move comes two years after a failed privatisation bid by Digileap Capital, a vehicle set up by Dymon and Challenger's controlling shareholders. In the new share deal, Digileap will subscribe for 56.6 million new shares at S$0.58 apiece.