Terratech: (S$0.045) RTO to see Malaysian property developer to list on SGX
- to acquire the entire stake in Malaysian property developer, Capital City Property for $300m
- issuance of 4.3b new shares at $0.07/share, a 37% premium over Terratech’s last closing price
- deal will result in the reverse takeover of the marble decor company
- Deal values the loss-making property developer at 16.4x P/B based on its NAV of $18.3m as at 30 Jun ‘15. FY15 losses amounted to $9m.
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