30
Aug
09:49
Hong Leong to up BRC Asia stake
Listed trading and manufacturing firm Hong Leong Asia will increase its stake in BRC Asia to 20% through the purchase of its subsidiary, Hong Leong Asia Investments.
Hong Leong will subscribe for 31,015,000 new ordinary shares in the capital of BRC at an issue price of SGD 1.48 ($1.1) per share, for a total cash consideration of SGD 45.9 million, Kallanish notes.
Meanwhile, Hong Leong has also simultaneously entered into a sale and purchase agreement&n…
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