Home News Company in the news

Metech JV partner disposes shares in JVCo for $4 mil as an interested person transaction

Felicia Tan
Felicia Tan4/18/2022 9:56 AM GMT+08  • 3 min read
Metech JV partner disposes shares in JVCo for $4 mil as an interested person transaction
The sale shares represent 20% of the total paid-up and issued share capital of the JVCo. Photo: Metech
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.

X Diamond Capital (XDC), the joint venture (JV) partner of Metech International, has disposed of its shares in the joint venture company (JVCo), Asian Eco Technology, to Wu Yongqiang.

Wu is a controlling shareholder of Metech International with 23.76 million shares in the company, or a 15.68% stake of the company’s total voting shares, making this an interested person transaction (IPT) under the Catalist rules.

XDC and Wu had, on April 17, entered into a sale and purchase agreement (SPA) for the sale of 100,000 ordinary shares in the JVCo to Wu for a total consideration of $4 million, or $40 per share.

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.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now