Raffles Financial Group Limited has arrived at an absolute share purchase deal on September 15th, 2021 to acquire all of the amalgamated share capital of Alto Vencap Private Limited, a Singapore-based firm.
Alto Vencap is a business advisory firm that serves the requirements of public listed firms in Hong Kong and Singapore. It also serves clients from Cambodia, Malaysia, China, Indonesia, Thailand, and the Philippines.
Raffles Financial’s Acquisition of Alto Vencap
Raffles Financial shall finish the complete takeover of Alto Vencap (AV) within the next few days. The purchase price is valued at SGD 2 per share (USD 1.48). Post-acquisition, the seller will be eligible for a payment, that is based on its performance, equal to 10 times Alto Vencap’s estimated total profits. This payment will be viable after the tax for the respective fiscal year is paid on June 30th, 2022. The tax will be payable in Alto Vencap’s shares which are valued at USD 7.81 per share. The payout maximum is 10,000,000-share.
Albert Fan, Director of AV, stated that the expansion of the Southeast Asian economy facilitates higher demands for business consulting entities in the financial advisory services sector. The firm is confident to deliver to the companies present in Southeast Asia with a financial solution of the Raffles Financial Group (RFG) suite.
The Raffles Financial Group suite will help medium-size enterprises by delivering a plethora of fiscal services like a corporate financial advisory in RTO, IPO, Mergers & Acquisitions, trust fund & family office management, digital asset fractionalization, listing, and REIT.
Dr. Charlie, the Chairman of Raffles Financial Group, stated that the acquisition of AV would encourage Regional Comprehensive Economic Partnership (RCEP) representatives to inculcate RFG financial solutions to attend to local firms’ listing and fund-raising needs.
About Raffles Financial Group Limited
Raffles Financial Group is a financial advisory company headquartered in Singapore. The firm is listed with the Monetary Authority of Singapore. The firm delivers advisory services to investment funds, family trusts, and family offices. The company delivers corporate fiscal guidance and public listing advisory for a large number of Asia Pacific firms who seek Initial Public Offering on chief stock exchanges in Canada, Australia, Hong Kong, Singapore, the USA, and Germany.
