Subscribers

Pteris needs more than cash from RTO to stay aloft

WHILE the tussle between Pteris Global's board and a dissenting director over a proposed reverse takeover (RTO) deal has ended with the latter resigning unexpectedly, the question of what exactly the RTO deal offers has not gone away.

The board still has to prove that the RTO will generate more than a short-haul financial lift. It has to be one that tackles Pteris's deep-seated problems.

For one thing, the RTO certainly looks like it will plug the airport logistics systems provider's pressing cash shortage. It will merge Pteris's balance sheet with that of target Tianda Airport Support, a passenger boarding bridge-manufacturer that Pteris's board says has posted continuous, increasing profits since...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes