Jadason Enterprises (SGX:J03) will allot and issue 33 million earnout shares at SG$0.013 apiece after the business it acquired met its profit target, according to a Thursday filing with the Singapore Exchange.

The printed circuit board equipment and services provider completed the acquisition of Jadason Technology and Metason on Jan. 22, and the targets posted a consolidated net profit of HK$4 million for fiscal 2025, thus clearing the HK$4 million threshold.

The new shares, which will take the company's issued share capital to about 1.09 billion shares, are expected to commence trading on or about Aug. 24.

Shares of the company were down 5% in morning trade Friday.