Tee International to sell 37.2% stake in CMC Infocomm
Singapore Property company TEE International said it had agreed to sell a 37.21% stake in associate CMC Infocomm (CMCI) to Yinda Pte Ltd for SGD5.37 million.
The Company said it has on 5 May 2017 entered into a sale and purchase agreement to sell 56,552,000 shares, or 37.21% of entire issued shares, in its associated company CMC Infocomm, to Yinda Pte for an aggregate consideration of SGD5.37million. CMCI is listed on the Catalist of the Singapore Exchange.
Tee will be left with 7,448,000 CMCI shares while CMCI will therefore cease to be an associated company of the TEE group.
- APMR News