US-based New State Capital signals intent to make offer for Procurri

Singapore

ENTERPRISE hardware supplier Procurri Corporation on Monday named its offeror, saying it had received a non-binding letter of intent (LOI) from New State Capital Partners for the proposed acquisition of all the shares of the company, other than treasury shares and shares held by substantial shareholder Irrucorp, via a scheme of arrangement.

"The company wishes to highlight to its shareholders that it has not accepted the LOI and therefore has not commenced exclusive discussions with New State in relation to the proposed acquisition," it said.