AEM Holdings Offloads Stake in ATECO For SG$6.8 Million

MT Newswires06-26

AEM Holdings (SGX:AWX), through its subsidiary, AEM Singapore, has signed a share purchase agreement to sell its entire stake in ATECO, a South Korean memory test handler service provider, according to a Tuesday filing with the Singapore Exchange.

The agreement includes the transfer of 470,504 common shares and 994,220 preferred shares of ATECO, for a total consideration of approximately SG$6.8 million.

The agreements were signed with LB Innovation Growth Fund II, JP-IBKS Innovation MPE Fund No. 1, JP-IBKS Innovation MPE Fund No. 2, New Deal Extension New Technology Fund No. 1, and Foong Wai Fee.

The company will use the net proceeds from the planned disposal for general working capital purposes.

Price (SGD): S$1.86, Change: S$+0.01, Percent Change: +0.54%

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Comments

BK99
06-28
BK99
Question is why did AEM offload the shares and take a $2.0M lost ????

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