Hatten Land proposes to acquire Metrocon capital
Hatten Land Limited has proposed to acquire Metrocon Pte. Ltd. for $24 million. The acquisition involves issuing 5.571 billion new ordinary shares, representing 60% of Hatten Land's share capital. Metrocon's current issued and paid-up capital is $18 million. The acquisition is expected to be completed within 14 days of the agreement.
The $24m purchase price may allot a new number of shares of 5.571 billion ordinary shares, or 60% of the share capital of Hatten.
Hatten Land Limited proposed to acquire the entire issued and paid-up share capital of Metrocon Pte. Ltd. from LBD Engineering Pte. Ltd.
Metrocon has issued and paid-up capital of $18m comprising of 18 million ordinary shares, which now have a consideration of $24m, according to a bourse filing.
The consideration shall allot a new number of shares of 5.571 billion ordinary shares, or 60% of the share capital of Hatten Land, it added.
Completion of the proposed acquisition shall take place less than 14 calendar days from the date when the companies have agreed on the deal in writing, the filing said.
