At this level, it is a 17.25% discount to the volume-weighted average price of 32.12 cents on 11 August 2020, which is the last full market day on which the shares were traded prior to the date of the sales and purchase agreement.
Kitchen Culture Holdings, which provides furnishings and equipment for kitchens, is buying a 30% stake in big data firm OOWAY Technology for $23.92 million.
The company, which reported a loss of $1.56 million for the half-year ended Dec 2019, will be paying for the acquisition by issuing 90 million new shares at 26.58 cents each.
