C&G enters into S$400m reverse takeover of Param Mitra Coal

Singapore

MAINBOARD-listed C&G Environmental Protection Holdings has entered into a reverse takeover deal valued at S$400 million that will give Indonesia's Param Mitra Coal Resources (PMCR) a backdoor listing on the Singapore Exchange (SGX).

C&G will fully acquire PMCR's assets, which are focused on the coal mining, logistics and trading of thermal coal sourced from various coal mines in Indonesia, in exchange for S$400 million of new C&G shares at S$0.008182 per share based on C&G's current number of shares.