The Business Times
business-time-50
SUBSCRIBERS

Asia-Pacific Strategic Investments to acquire MoneySmart at raised price tag of S$221.5m

google-preferred-sourceAdd BT as a preferred source
Yong Hui Ting

Yong Hui Ting

Published Fri, Nov 4, 2022 · 02:51 PM
    • The new acquisition will result in a reverse takeover of APS.
    • The new acquisition will result in a reverse takeover of APS. PHOTO: YONG HUI TING, BT

    HOTEL operator Asia-Pacific Strategic Investments (APS) on Friday (Nov 4) proposed to acquire Catapult Ventures, which owns personal financial marketplace MoneySmart, for a raised price tag of S$221.5 million.

    APS said the new consideration was arrived at after an arm’s length negotiation and after agreeing to take into account an independent valuation of Catapult Ventures, which is to be completed before the acquisition.

    The new valuation is roughly 75 per cent above MoneySmart’s estimated value after its last funding round in 2019, at US$89.9 million according to data platform VentureCap Insights.

    Financial servicesReverse takeoverM&A

    TRENDING NOW

    As household size is hardly growing, is there a need to build super-large landed homes?

    Think twice about rebuilding that old landed property into a super-big house to max out GFA

    In 2025, the NTUC handled over 3,900 retrenchment and termination-related cases for professionals, managers and executives (PMEs), five per cent more than in 2024.

    More retrenched white-collar workers in Singapore seeking unions’ help

    Trading under the symbol SPCX, SpaceX has picked a handful of brokerage firms to distribute shares in the IPO to retail customers in the US.

    SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares

    UOBKH's Alpha Picks portfolio outpaces the STI in May, returning 3.3% on a price-weighted basis, compared to the index's 2.5% gain.

    DBS Research and UOBKH eye Singtel, Venture as top picks for June

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More