GKE Enters JV Agreement, Additional Investment in GKE Retails; Shares Up 3%

MT Newswires

2025/06/30

GKE (SGX:595) entered into a joint venture agreement with Li Shan and GKE Retails to engage as a distributor, wholesaler and retailer of mobile communication services and accessories in Singapore, according to a late Friday filing with the Singapore Exchange.

Shares of the company were up over 3% in recent trading.

Under the agreement, Li Shan subscribed for 266,667 shares in GKE at SG$1.0 per share, representing 40% of the issued and paid up share capital of GKE Retails.

The company and Shan have also made an additional investment in GKE Retails through further subscription in additional shares. The company has subscribed to 600,000 shares at SG$1.0 per share while Shan has subscribed to 400,000 shares at SG$1.0 per share.

Following the transaction, GKE Retails is no longer the company's wholly owned subsidiary.

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