To fund the acquisition, Asia Enterprises will issue 28.4 million new shares to the vendor, Li Jing, at 31.2 cents each.
Steel supplier Asia Enterprises Holding (SGX:A55
) is paying $8.86 million to buy a 28.64% stake in privately-held GKE Metal Logistics, so as to build additional earnings sources via a complementary business activity.
As at June 30 2024, the book value of the 28.64% stake in GKE Metal Logistics, which provides logistics and inventory management services of non-ferrous metals, was around $4.5 million.
