AsiaPhos eyes gold and copper miner MMJV in reverse takeover
Issue and allotment of shares to seller can reach up to S$72m
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CHINA-FOCUSED phosphate miner AsiaPhos Limited on Friday said it is looking to acquire the entire stake in gold and copper miner MMJV, in a deal that will constitute a reverse takeover of the former.
AsiaPhos plans to issue and allot to the seller its ordinary shares at 0.5 Singapore cent each, totalling either S$72 million or half of the agreed valuation of the target group, whichever is lower.
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