The announcement emphase on the acquisition of companies & key holder share holdings. No detail elaboration of key business covering the acquisition which can bring to the table for the investors.
Embracing Future to Acquire Stakes in Four Companies; Shares Surge 11%
Embracing Future agreed to acquire stakes in four companies, according to a Friday filing with the Singapore Exchange.The company agreed with Shinji Katsuki to acquire a 10% stake in Embracing Future Biomedical for SG$6.7 million, satisfied through the issuance of around 66.5 million shares in the company.A separate agreement was made with Zhou Jun to acquire a 10% stake in Super Alpha Tech for SG$650,000 through the allotment of 6.5 million shares.The company also agreed with its executive director and chairman, Zhu Hua and Beijing Zhenghe Antai Investment Management to acquire the entire 100% stake in Beijing Weilai Media Advertising for SG$68 million through the issuance of around 1.05 billion shares in the company.Meanwhile, the company also agreed with its chairman to acquire a 49% stake in its subsidiary, Embracing Future MCN Technology, for SG$104,000 through the issuance of 1.6 million shares in the company.The proposed acquisitions are part of the company's strategy to divers
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