ICO Group (01460) rises 31.6% on acquisition Close
08/12/2017 11:58
(Infocast News) ICO Group (01460) rose 31.6% to HK$0.200 early this morning after trading in the stock resumed following an announcement in relation to acquisition. The stock has been trading between HK$0.170 and HK$0.200 this morning.

The company has agreed to buy the entire issued share capital of O2O Limited and liabilities owing by O2O from Rainbow Field Investment at a consideration of RM145 million (subject to downward adjustment), including RM4.5 million in cash, RMB40.5 million in promissory notes and RM100 million in convertible bonds.

O2O owns an eight-floor commercial block with 1 level of M&E basement under the name of "Chow Kit Baru" in Bandar Kuala Lumpur, Daerah Kuala Lumpur, Malaysia.


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