Alpha Energy proposes S$20m fundraising for its foray into education

Singapore

ALPHA Energy is proposing a S$20 million fundraising as it tries to diversify from oil into the education business, it said on Wednesday.

The Catalist-listed oil company on Tuesday entered into a conditional sale-and-purchase agreement with Kydon Holdings for the proposed acquisition of Kydon Learning Systems Institute (KLSI) - a Singapore-based education technology business - for S$12 million in cash and stock.