Malaysia’s listed telecom and tech firm Green Packet Bhd said Tuesday it has entered a term sheet with Singapore-based software technology startup Xendity to acquire the entire paid-up share capital of the company.
The acquisition will be satisfied through cash amounting to $1.5 million and the remaining $8.5 million via the issuance of new ordinary shares in Green Packet at an issue price to be determined later, the company said in a regulatory filing.
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