Green Packet to sell OCIB stake for RM23mil

PETALING JAYA: Green Packet Bhd has entered into a share sale agreement to dispose of its entire equity interest in Oasis Capital Investment Bank Ltd (OCIB) for RM23mil.

Green Packet, in a filing with Bursa Malaysia, said it is expecting a gain of RM13.79mil from the disposal of OCIB to WKJ Capital Equity Sdn Bhd.

This is after subtracting OCIB’s net assets of RM9.21mil, as at Dec 31, 2022, from the total cash consideration.

Green Packet is looking to direct the proceeds from the disposal to mainly fund the group’s existing core businesses, particularly the financial technology and communication businesses, in addition to any future prospective businesses.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

GreenPacket , OCIB , stake , disposal


Next In Business News

Rastam Mohd Isa is new FGV chairman
5G coverage in populated areas at 68.8%
Hanoi to turn off 2G phone technology
Ecoscience gets RM38mil construction job
Foreign funds take long-term stance
SC, SME Corp join hands to advance smaller businesses
Growth in net interest income a boon for banks
UEM Sunrise to provide grant for water quality assessment
SNS Network positive on ICT industry
Cashew exports predicted to rebound strongly by year-end

Others Also Read