KUALA LUMPUR: Catcha Digital Bhd
plans to acquire a 60 per cent equity interest in trade show organiser One International Exhibition Sdn Bhd for RM11.377 million.
Catcha Digital is involved in the provision of digital media advertising solutions to clients in Malaysia.
In a filing with Bursa Malaysia today, the company said its wholly owned subsidiary, Catcha Connect Sdn Bhd, has signed a share sale agreement with One International Exhibition, and the purchase consideration will be satisfied entirely in cash and is subject to adjustments.
"The proposed acquisition will enable Catcha Digital to further expand its revenue streams by venturing into the business of intellectual property-based exhibition, as well as leveraging the group’s existing customer network.
"This is a strategic initiative that is expected to contribute positively to the financial performance of the Catcha Digital Group, ultimately enhancing shareholder value in the long term,” said Catcha Digital.
Upon completion of the proposed acquisition, One International will become a 60 per cent-owned subsidiary of Catcha Connect, which in turn is an indirect 60 per cent subsidiary of Catcha Digital.
As of the latest practicable date, One International holds a 100 per cent shareholding in Expoglobe Sdn Bhd, which is one of its subsidiaries, and a 49 per cent shareholding in MBAM OneBuild Sdn Bhd. - Bernama
