Ban Leong receives buyout offer from Epicsoft Asia at $0.6029 per share

Epicsoft Asia has no plans to raise the offer price yet.

Ban Leong Technologies Limited has received a buyout offer from Epicsoft Asia, an indirect wholly owned subsidiary of GCL Global Holdings, at $0.6029 per share.

CGL Group CEO Sebastian Toke said the voluntary conditional cash offer allows Ban Leong shareholders "to sell the shares at a premium to market price in a market with limited liquidity without having to pay brokerage fees."

Epicsoft Asia has no plans to raise the offer price yet, but will consider it should a rival bid emerge.

Epicsoft Asia plans to finance the acquisition with its cash on hand and secured term loan facility provided by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch.