In brief

Asiasons Capital plans to sell subsidiary

ASIASONS Capital is planning to sell a subsidiary in a move that could boost liquidity for the group and reduce some of its debt and liabilities. The firm on Monday said that it is currently in negotiations with a party, and this subsidiary holds certain long-term assets and certain short and long-term debts and liabilities of the group. The group is also planning to change its name to Attilan Group Limited; it is seeking the approval of shareholders at an extraordinary general meeting on April 29.

In a separate announcement, Asiasons Capital said that it will be issuing up to S$25 million in convertible notes to Advance Capital Partners Asset Management's Advance Opportunities Fund. The one per cent unsecured equity-linked redeemable structured convertible notes due 2018 will be issued in three tranches.