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PNG finance firm eyes listing in RTO deal with Jaya

Proposal for Jaya to acquire Heduru Moni for up to S$232m through issue of new shares

Published Wed, May 18, 2016 · 09:50 PM

Singapore

A FINANCE firm from Papua New Guinea (PNG) that mainly makes education loans to children of public officers in the South Pacific country, is eyeing a listing in Singapore through a reverse takeover (RTO) deal with mainboard-listed Jaya Holdings, now a cash or shell company.

Heduru Moni, or Moni Plus - as it is known in Papau New Guinea - sees Singapore as a good listing base, citing the Republic's good governance.

A licensed lender since 2006, Moni…

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