Home News Deals, joint ventures & alliances

Synagie founders and Gobi makes $61.7 million offer for company's e-commerce business

The Edge Singapore
The Edge Singapore8/5/2020 03:03 PM GMT+08  • 2 min read
Synagie founders and Gobi makes $61.7 million offer for company's e-commerce business
From the proceeds, Synagie plans to distribute 18 cents cash per share to its shareholders.
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.

Synagie Corp’s founders have teamed up with leading China venture capitalist firm Gobi Partners to buy over the core e-commerce operations for $61.7 million.

The three Synagie founders are CEO Clement Lee Shieh-Peen, executive directors Zanetta Lee Yue and Tai Ho Yan. They will be aided by Meranti ASEAN Growth Fund, a fund managed by Gobi Partners, which has more than US$1.1 billion in assets under management.

As at Dec 31 2019, the businesses to be sold have a combined net asset value of negative $14.1 million and net tangible asset value of negative $14.7 million. Net loss incurred by these entities was around $8.5 million.

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.