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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.
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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.

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