Aspial Corp. Move to Buy Remaining Shares in AF Global; Shares Down 4%

MT Newswires

2025/10/08

Aspial (SGX:A30) along with JK Global Investment, proposed to acquire the remaining shares in AF Global (SGX:L38) by way of a scheme of consideration, with a target to privatize the hospitality company, according to a Wednesday filing with the Singapore Exchange.

The acquisition will be made through a special purpose vehicle, AFG Investment.

The offeror is targeting the acquisition of around 288.7 million shares for SG$0.11 per share for a total consideration of around SG$31.8 million.

The privatization is expected to provide the company with greater flexibility to manage AF Global.

Aspial currently has a 41.75% stake in AF Global, whole 30.91% of the stake is held by Koh Wee Meng who is the brother of the company's executive chairman, Koh Wee Seng.

Shares of the company were down nearly 4% in Wednesday trading.

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