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

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.

The Business Times reported earlier in March that the group had entered into a non-binding heads...

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