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SingPost acquires 30% stake in e-commerce firm Hubbed

Australian service aggregator has network of 680 newsagents to provide parcel service delivery

Published Wed, Jun 17, 2015 · 09:50 PM
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Singapore

SINGAPORE Post (SingPost) has acquired a 30 per cent stake in Australian e-commerce firm Hubbed Holdings for about A$4.3 million (S$4.45 million).

The investment was made through indirect wholly owned Quantium Solutions (Australia), which acquired 85,715 ordinary shares in Hubbed.

In an announcement on Wednesday, SingPost said that if certain agreed performance benchmarks were met, Quantium would pay an additional A$1 million to Hubbed. Otherwise, Quantium would subscribe for another 5 per cent shareholding interest…

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