AEM Holdings has received approval-in-principle from the Singapore Exchange for the listing and quotation of 262,960 new ordinary shares to be issued at $3.17 per consideration share in connection with the acquisition of DB Design.

See: AEM holdings acquires DB Design Group for US$3.3 mil

The consideration shares will be issued following the general mandate obtained by AEM Holdings at its annual general meeting (AGM) held on May 21.

AEM, on July 22, announced its 100% acquisition of California-based DB Design Group for a total consideration of US$3.3 million ($4.5 million).

The issue price of $3.17 per consideration share is computed based on the average closing price of the shares for the 10 trading days immediately up to July 17.

As at 2.14pm, shares in AEM were trading 8 cents higher, or 2.0% up at $4.16.