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Company buying is about to list on the Stock Exchange...
Singapore eDevelopment: Fragmented Industry Exchange To Acquire HotApps For US$700 Million.
04 Sep 2014 12:15
A U.S. company pending quotation on an over-the-counter bulletin board intends to acquire a wholly owned instant messaging software subsidiary of Singapore eDevelopment Ltd. for US$700 million in shares and bonds. The proposed transaction will allow HotApps International Pte. Ltd. to tap the U.S. capital market and facilitate the launch of the HotApp IM and e-commerce mobile application in North and South America. SeD acquired HotApps last month and plans to launch it in 24 countries, including Singapore, before the year-end. SeD has entered into a term sheet for OTCBB-bound Fragmented Industry Exchange Inc. to acquire HotApps for 1.0 million new shares at US$10 each (US$10 million) and US$690 million worth of zero-coupon perpetual bonds, with a conversion price of US$10 each...
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Singapore eDevelopment: Fragmented Industry Exchange To Acquire HotApps For US$700 Million.
04 Sep 2014 12:15
A U.S. company pending quotation on an over-the-counter bulletin board intends to acquire a wholly owned instant messaging software subsidiary of Singapore eDevelopment Ltd. for US$700 million in shares and bonds. The proposed transaction will allow HotApps International Pte. Ltd. to tap the U.S. capital market and facilitate the launch of the HotApp IM and e-commerce mobile application in North and South America. SeD acquired HotApps last month and plans to launch it in 24 countries, including Singapore, before the year-end. SeD has entered into a term sheet for OTCBB-bound Fragmented Industry Exchange Inc. to acquire HotApps for 1.0 million new shares at US$10 each (US$10 million) and US$690 million worth of zero-coupon perpetual bonds, with a conversion price of US$10 each...
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