Addvalue Tech rises after update on proposed sale of subsidiary

ADDVALUE Technologies' counter was up 2.3 Singapore cents (71.9 per cent) to 5.5 Singapore cents as of 11.27am on Tuesday, after the company announced that it had revised the total consideration for the disposal of its wholly-owned subsidiary, Addvalue Communications, from S$330 million to S$308 million.

It also noted that both parties (Addvalue and the buyer) are working towards completing the sale within four months. The company had entered into the conditional sale and purchase agreement on March 24, 2014.