CPH to acquire fintech firm oCap in RTO
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Singapore
PRINTED circuit board manufacturer CPH on Thursday signed a conditional sale and purchase agreement to acquire fintech solution provider oCap Management from Delphinium Capital for S$61.8 million, in what will result in a reverse takeover (RTO) of CPH. oCap Management is an alternative financing solution provider headquartered in Singapore, offering four main products for small and medium-sized enterprises (SMEs). They are payment receivables financing, cash advances, trade financing and working capital.
The S$61.8 million will be satisfied by the issuance of more than five billion new CPH shares at S$0.012 apiece; and Delphinium, an investment company with a fintech and regulated financial services assets portfolio, will become the single largest shareholder of CPH with a 80.34 per cent stake.
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