Hisaka gets SGX nod for RTO deal
HISAKA Holdings said on Thursday that it has received in-principle approval from the Singapore Exchange to buy Regal International Holdings in a S$127.25 million reverse takeover deal.
The acquisition, which would turn the automation solutions provider into a Malaysian property development company, will be paid partly by cash and partly by new consolidated shares, with the share consolidation ratio amended from its earlier proposal at the end of last year.
As proposed in December last year, Hisaka will pay Regal S$20 million in cash, a communications officer from Hisaka confirmed with The Business Times on Thursday.
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