Catalist-listed Allied Tech reviewing proposed S$130m RTO of dormitory operator

Singapore

CATALIST-listed Allied Technologies said it it has received a letter of intent for the proposed acquisition of "one of the largest dormitory operators in Singapore" for S$130 million that could result in a reverse takeover.

The precision engineering company said the board was still reviewing the terms of the proposed deal as contained in the letter dated April 25 from Lim Yew Ming, the vendor.