Pollux Properties to undertake $145 mil new share issuance to acquire PAI Group

SINGAPORE (Aug 8): Pollux Properties has agreed to purchase British Virgin Islands (BVI) incorporated property investment company, Pollux Alpha Investments (PAI) Group, from its parent company Pollux Holdings for a total consideration sum of $201 million.

PAI holds commercial and residential investment properties in Singapore through each of its six wholly-owned subsidiaries, and is wholly-owned by Pollux Holdings, an investment holding company incorporated in Singapore.

Pollux Holdings holds approximately 60.40% of Pollux Properties, whose CEO, director and controlling shareholder is Nico Purnomo Po, also the sole shareholder and director of Pollux Holdings.

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