Home News Catalist watch

Advanced Systems Automation acquires Excelgames Interactive Asia; conducts RTO with a base consideration of $120 mil

Felicia Tan
Felicia Tan6/10/2021 12:18 AM GMT+08  • 3 min read
Advanced Systems Automation acquires Excelgames Interactive Asia; conducts RTO with a base consideration of $120 mil
The acquisition is expected to be completed within 14 days upon the satisfaction of all of the conditions under the SPA.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Advanced Systems Automation has entered into a conditional sale and purchase agreement (SPA) with Samuel Ong Chee Ming, Roland Ong Toon Wah and Alan Leung Wing Lun for the 100% acquisition of Excelgames Interactive Asia Holdings for a base consideration of $120 million.

Of the amount, $114 million will be satisfied through the allotment and issuance of new shares in the capital of Advanced Systems at the implied issue price of about 16.33 cents per share.

The implied issue price is calculated based on a formula (see below).

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.