Bonia to acquire 30% stake in ITSH for RM7.5mil

PETALING JAYA: Bonia Corp Bhd is proposing to subscribe to 6.19 million shares, or a 30% stake in IT SEA Holdings Sdn Bhd (ITSH) for RM7.5mil.

In a filing with Bursa Malaysia, Bonia said the proposed subscription, if materialised, will complement and increase Bonia’s range of product offerings to provide a wider assortment of products.

This, the company said, will allow it to cater for the constant change and demands of the consumers in the fashion retail industry.

“This will add brand names such as “A Bathing Ape”, “Aape”, and the “I.T.” multi-label brands to Bonia Group’s existing suite of brand names.

“The addition of these established lifestyle fashion brands with strong brand equity offers significant growth opportunities and is in line with Bonia’s long-term business strategy,” it said.