Jasper Investments to Buy 51% Stake in Prosper Excel for SG$7.5 Million

MT Newswires06-25

Jasper Investments (SGX:FQ7) has agreed to purchase 51% of Prosper Excel Engineering from Johnny Lian Tian Yong for SG$7.5 million, according to a Tuesday filing on the Singapore bourse.

This transaction includes the acquisition of 51,000 ordinary shares in the target, which will be funded through SG$5 million in cash and SG$2.5 million in new shares of Jasper Investments.

The new shares will be issued at SG$0.0015 per share, a discount to the recent average price of SG$0.0079. Post-acquisition, these shares will represent 27.68% of Jasper Investments' enlarged issued share capital following completion.

The deal surpasses 20% of the relative figures under Rule 1006 of the SGX-ST listing manual, making it a major transaction that requires shareholder approval. Jasper Investments will seek this approval at an upcoming extraordinary general meeting.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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