MARKETS & INVESTING | Staff Reporter, Singapore

OUE sells entire equity stake in Nuvest Capital for $1m

Its stake represents 33% of the issued share capital of the firm.

OUE’s wholly-owned subsidiary OUE Investments has sold and transferred its entire equity stake in GIC-backed investment firm Nuvest Capital for $1m, an announcement revealed.

Also read: OUE Limited buys 49.7% stake in Superfood Retail Limited for $7.5m

OUE Investments sold its stake, which represents 33% of the issued share capital of Nuvest Capital, to Aje Kumar Saigal who previously held the remaining 67% shareholding interest in Nuvest Capital.

Following the completion of the disposal, Nuvest Capital has ceased to be an associated company of OUE.

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