SINGAPORE (Nov 26): On Nov 22, loss-making circuit board manufacturer CPH said it was pivoting from its competition-ridden core business to financial technology via a reverse takeover (RTO) of alternative financing provider oCap in a deal worth $61.8 million.

Under the terms of the deal, CPH will issue 5.15 billion new shares at 1.2 cents apiece. oCap is now held by an entity called Delphinium Capital, in turn owned by insurer Swiss Life Holding. It has a paid-up share capital of $21 million.

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