Cape EMS in RM77mil iConn acquisition deal

PETALING JAYA: Cape EMS Bhd has entered into a conditional stock purchase agreement for the proposed acquisition of iConn Inc for RM76.6mil from Hidirlar Family Trust (TH Trust), Rabia Hidirlar Investment Trust (RH Trust) and Low Kim Teck.

It has also proposed a private placement of up to 92.3 million new ordinary shares to third party independent investors at a price to be determined.