Asia-Pacific Strategic Investments Enters Share Subscription Deal with IFH Technology; Shares Hit 52-Week High

MT Newswires07-01

Asia-Pacific Strategic Investments (SGX:5RA) entered into a subscription agreement in which IFH Technology will subscribe to 3.14 billion new shares at SG$0.002 apiece, according to a filing with the Singapore Exchange on Saturday.

The shares amount to an aggregate consideration of SG$6.3 million and represent 17.63% of the real estate developer's existing share capital.

Proceeds will be used for general working capital, term loan repayment, and costs associated with the acquisition of Mobii Genius, the filing said.

The company's shares doubled in value in recent Monday trade, hitting a 52-week high.

Price (SGD): S$0.002, Change: S$+0.001, Percent Change: +100.00%

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