GS Holdings Secures Key Approval in Octopus Distribution Networks Acquisition

MT Newswires

May 02

GS Holdings (SGX:43A) has received a listing and quotation notice from the Singapore Exchange in connection to its proposed acquisition of Octopus Distribution Networks, according to a Friday filing with the Singapore Exchange on Friday.

The approval allows the company to list issue 166,226,912 consideration shares at SG$0.0379 per share to Octopus Global.

A total of 14,567,901 shares will be issued to Accura at SG$0.0243 per share as introducer, while 652,173 and 395,778 sponsor shares will be issued to Evolve Capital Advisory at SG$0.023 and SG$0.0379 per share, respectively.

According to an earlier filing, the company signed a binding agreement to acquire Singapore-based beverage company, Octopus Distribution Networks, for SG$11.8 million.

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