SpiceI2I

SpiceI2I: Lifts trading halt today 9am. Co will acquire Indonesian based Affinity Group which owns Selular and is engaged in distribution of mobile phones. Affinity owns the local brand “Nexian” and has approx 22%-25% mkt share with rev of approx US$680m. Funding will come through a 1 for 1 rights issue to raise gross proceeds of approx S$151m. The rights issue will be placed 5.5 cents per subscription share, a 52.2% discount to the closing price of 11.5 cents.