Asiatravel.com sells 40m shares to ZhongHong Holding for $9.63m
At $0.25 per share.
Chinese company ZhongHong Holding recently announced that it is acquiring 40 million new shares from Singapore’s Asiatravel.com for CNY$48.5m.
According to SGX, the issue price represents a discount of approximately 7.54% to the volume weighted average price of S$0.2704.
Based on the issue price, the estimated amount of proceeds from the Proposed Subscription, net of the estimated expenses of approximately S$370,000, is approximately S$9,630,000.