RAS Technology Holdings' (ASX:RTH) subsidiary, Racing and Sports Asia, completed the acquisition of six Hong Kong-based racing data and editorial publications for HK$20 million, according to a Friday filing with the Australian bourse.
The publications include the Hong Kong Daily News Racing Booklet and Newspaper, The Sun Racing Journal, WQ Racing Booklet, Turf Timers, and Mark Six Lottery, per the filing. RAS Technology will also provide key services to the Hong Kong Jockey Club, the filing stated.
The assets delivered a revenue of AU$3.6 million and a profit of AU$404,000 in fiscal 2024. The acquisition is expected to be earnings accretive within the first year, the filing added.
RAS Technology's shares were up 6% in recent Friday trade.
Price (AUD): $0.80, Change: $+0.045, Percent Change: +6.00%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.