ATLAN HOLDINGS BHD [] has proposed a reverse takeover of Esmart Holdings Ltd, which is listed on the Catalist board of Singapore Exchange by injecting two of its subsidiaries.
Atlan said on Monday, June 28 it would inject its entire 74.71% stake in DFZ CAPITAL BHD [] and its 100% stake in Darul Metro Sdn Bhd into Esmart under the corporate exercise for an aggregrate consideration of RM670.58 million or S$285.35 million.
Here's how Atlan has proposed it will work. Esmart will acquire 156.86 million DFZ shares or 74.71% stake from Atlan for RM470.58 million or RM3 per DFZ share to be satisfied by the issuance of 12.70 billion new Esmart shares.
Esmart will also acquire Darul Metro from Atlan for RM200 million to be satisfied by the issuance of 5.39 billion new Esmart shares.
Atlan, DFZ resume trading on Tuesday, June 29.
Written by Joseph Chin
The Edge Malaysia
How can I make so much money from the stock market? Koon Yew Yin
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Another valuable advise by KYY on investing in share market.
*How can I make so much money from the stock market? Koon Yew Yin*
Author: Koon Yew Yin | Publi...
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