Axington in yet another RTO attempt with $27 million deal to buy Serial System's unit

The Edge Singapore
The Edge Singapore9/3/2022 08:33 PM GMT+08  • 3 min read
Axington in yet another RTO attempt with $27 million deal to buy Serial System's unit
Serial System's Derek Goh / Photo: Samuel Isaac Chua
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Serial System plans to sell a subsidiary into Axington Inc via a reverse takeover deal, which, if completed, will give group CEO Derek Goh control of another listed entity.

The deal, announced on Sept, 2 is Axington’s third known RTO attempt in just over a year to put behind its cash company status.

In their separate but related announcements, Serial System says it plans to sell Achieva Technology to Axington for not more than $27 million.

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