DeClout sells IT services unit Acclivis to CITIC Telecom, books $28 mil gain

SINGAPORE (Oct 12): DeClout, which has been rapidly growing by acquisitions over the past four years, is marking yet another reversal in its strategy: selling.

Following the spinning off of its hardware resale unit Procurri in July, the company is selling its entire stake in its 72.09%-owned IT communications and services subsidiary, Acclivis, to China’s CITIC Telecom International Holdings for $75 million.

When approved by shareholders, the deal will generate gross proceeds of $45.6 million and a net gain of $27.9 million for DeClout.

Procurri opens at 54 cents, 2 cents below IPO price

SINGAPORE (July 20): Shares of Procurri, the provider of data centre equipment, opened at 54 cents on its first day of trading on the Mainboard, 3.6% below its IPO price of 56 cents.

Still, the counter went on to trade between 53.5 cents and 56 cents before levelling off at 55 cents at 11.06am with 7.4 million shares changing hands.

DeClout subsidiary Procurri lodges listing prospectus with MAS

DeClout logo

SINGAPORE (June 29): Catalist-listed DeClout announced on Tuesday its subsidiary, Procurri Corporation, has lodged its preliminary prospectus with the Monetary Authority of Singapore, in connection with its proposed listing on the Mainboard of the Singapore Exchange.

See DeClout's subsidiary Procurri receives eligibility to list on Mainboard

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