EuroSports Global Increases Stake in Prosper Auto to 80%; Shares Surge Nearly 30%

MT Newswires

Nov 26

EuroSports Global (SGX:5G1) increased its stake in Prosper Auto through the acquisition of 145,029 shares from Eden Capital for around SG$1.8 million, according to a Tuesday filing with the Singapore Exchange.

Shares of the company surged nearly 30% in Wednesday trading.

The consideration will be satisfied through the transfer of 10 million treasury shares to Eden Capital at SG$0.18 per share.

Following the acquisition, the company's stake in Prosper Auto will increase to 80%.

The acquisition is part of the group's long-term business goals, the filing added.

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