Allied Technologies to divest unit for S$25m

Singapore

ALLIED Technologies announced after trading hours on Wednesday that it will be disposing of its unit Allied Technologies (Suzhou) Co (ATSU) for a total purchase consideration of S$25 million.

The purchaser is businesswoman Hong Siou-Jhu, who is residing in Taiwan, and is intending to expand her business into China via the acquisition, according to a filing to the Singapore Exchange (SGX).

The total sum of S$25 million consists of S$21 million as equity consideration for the proposed…