Radiant Globaltech to acquire 80% stake in Rymnet for RM52.5mil

KUALA LUMPUR: Radiant Globaltech Bhd (RGTech) has inked a deal to acquire 80,000 shares, representing an 80% equity interest, in Rymnet Solutions Sdn Bhd from its founder and CEO, Un Sze Hau, for RM52.5mil.

In a filing with Bursa Malaysia, the group said the purchase consideration shall be satisfied via a combination of RM42.5mil cash and the allotment of 30.3 million new RGTech shares at an issue price of 33 sen each.