CWG to buy label maker Unigenius for RM33mil


PETALING JAYA: CWG Holdings Bhd plans to acquire the entire stake in label maker Unigenius Holding Sdn Bhd for RM33mil, which will be partially funded through a proposed cash call exercise.

The current owners of Unigenius are Boo Yin Kwan (38%), Chan Lai Yee (19.4%), Lam Chun Wai (16.3%), Low Yaw Shim(16.3%) and Loo Zi Kai (10%).

CWG, which manufactures the Campap brand stationery and printed materials, said it will get immediate access to a new range of paper-based printed materials by acquiring Unigenius.

The proposed acquisition comes with a minimum profit guarantee of RM15mil in total for a three-year period from Jan 1, 2024 to Dec 31, 2026, CWG said in a filing with Bursa Malaysia.

RM18mil of the total purchase price will be satisfied by cash and the remaining RM15mil via the issuance of redeemable preference shares at RM1 apiece.

CWG plans to issue up to 147.3 million new shares, on the basis of three rights shares for every five existing CWG shares held.

The issue price of each rights share has been fixed at 18 sen. CWG’s major shareholders Ooi Chin Soon and Datuk Hong Choon Hau, have provided irrevocable undertakings to subscribe in full to the entitled rights shares.

Ooi, whose stake will increase to 23.59% post rights issue subscription, is the executive chairman of CWG.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

China makes moves in digital culture market
Over 90% of entrepreneurs have yet to adopt e-invoicing - expert
Oil heads for weekly gains on anxiety over intensifying Ukraine war
S&P lowers outlook on three Adani units after US indictment of founder
Bumi Armada posts higher net profit of RM211.33mil in 3Q
Affin Bank's net profit jumps 45% to RM145.82mil in 3Q
KLCI remains positive as heavyweights bounce higher
Malaysia's inflation comes in at 1.9% in Oct
Globetronics shares rally in early trade after Taiwan deal
Nissan to cut or transfer about 1,000 jobs in Thailand, sources say

Others Also Read