Ascapia may make offer for Datapulse; faces suit over 'baseless claims'

Singapore

SINGAPORE-BASED hedge fund Ascapia Capital, which already owns some 410,000 shares in cash-rich Datapulse Technology, is mulling a possible partial offer for the company in the hope of setting things right at the firm.

"That is the game plan. We want 27 per cent (stake) so we can have a say," Ascapia's portfolio manager Wesley Widjaja told The Business Times. "But it's on pause for now... although we remain open to it as the company's shareholder base is fragmented (there are about 9,000 minority shareholders as at Jan 25) and we need to examine our options," he added.