Asia Tele -Net & Technology acquires SHL with stake in Smartech Digital

Asia Tele -Net & Technology (0679) declared to acquire Strength Hope Limited(SHL) for HK$64.5mln by issuing new shares and convertible notes and partially by stake in Smartech Digital Manufacturing (8068) 



 Asia Tele -Net & Technology (0679) will transfer 150mln stake in Smartech Digital Manufacturing as subscription at HK$0.03 for HK$4.5mln, accounting for 3.2% of issued share capital on discount of 40% vs closing price of yesterday. Shareholding of Asia Tele -Net & Technology (0679) in Smartech Digital Manufacturing (8068) will be decreased from 11.8% to 8.6%.



Asia Tele -Net & Technology (0679) will also issue 500mln news shares at HK$0.06 each to raise HK$30mln for the acquisition, accounting for 9.84% of issued share capital and 8.96% of enlarged capital with 11.8% discount against yesterday closing price.

Related stock : (679)( 8068)