NEXGRAM SEES SATISFACTORY PROSPECTS FOR AHSB ACQUISITION
KUALA LUMPUR, Oct 22 -- Nexgram Holdings Bhd’s plan to acquire 65 per cent equity in Arita Holdings Sdn Bhd (AHSB) for RM19.5 million through its subsidiary, NMED Industries Sdn Bhd (NMEDI), is on the back of satisfactory prospects for AHSB that is involved in medical parts and personal protection equipment (PPE) products amid COVID-19.
In a reply to Bursa Malaysia’s query, it said any slow market is complimentary, supported by increase market in medical parts and PPE products due to a surge in global demand on the back of the pandemic.
“The company is optimistic and perceives it’s the best interest for the company under current market condition,” it said.
It said the acquisition amount would be settled via the issuance of redeemable convertible preference shares.
“The estimated time frame to complete the proposed acquisition shall not later than 14 days from the unconditional date of the shares sale agreement,” it added.
-- BERNAMA
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