GCL Global (GCL) said Wednesday that it has made a conditional cash offer of 0.6029 Singapore dollars ($0.4580) per share to acquire Ban Leong Technologies.
Ban Leong, listed on the Singapore Exchange, is a distributor of computer hardware and IT accessories. The offer is made through its Epicsoft Asia subsidiary.
GCL said it has received irrevocable undertakings from Ban Leong managing director and his wife, representing a combined stake of about 28.13%, to accept the offer.
GCL also said it expects the transaction to expand its product offerings and have a positive impact on its adjusted EBITDA.
Shares of GCL Global rose past 10% in recent trading.
Price: 2.63, Change: +0.25, Percent Change: +10.55
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