/A-Smart website

Singapore Billionaire secures stake in SGX-listed firm A-Smart

In total, the stake for Oei Hong Leong is worth $5.37m.

Singapore-based billionaire Oei Hong Leong will take a stake in SGX-listed firm A-Smart Honldings at a 50% premium, seeing opportunities in ASEAN-bound Timor-Leste.

Under the proposed placement, A-Smart will raise gross proceeds of $5.37m through the issuance of 29,812,473 new ordinary shares to Oei. 

“At $0.18 per share, the issue price translates to a 50% premium to A-Smart’s closing price of $0.12 on 6 December 2022,” read the statement.

The new ordinary shares will be subjected to a two-year moratorium starting from the share issuance date.

The amount of new ordinary shares to be issued “represent 20% of A-Smart’s existing share capital or 16.67% of its enlarged share capital.”

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!