Brief: New silkroutes to acquire 80 pct stake in CG Capital Markets

Coolan

03/02/2017 24:18

Feb 3 (Reuters) - New Silkroutes Group Ltd  NEWS.SI  
    * New silkroutes group to take 80% stake in new york 
broker-dealer and investment bank CG Capital Markets for 
us$14.4m 
    * Will issue additional new shares worth up to us$9.6 
million if cgcmh and its units meet certain after-tax profit 
targets over three years from 2017 
    * Post-acquisition, us companies will operate under brand 
name of NSG's wholly-owned investment arm, New Silkroutes 
Capital 
    * Will issue new shares to fund acquisition and issue price 
per share will be three singapore cents above average closing 
price of nsg's shares 
 
Source text for Eikon:  ID:nSNZ30nRqm  
Further company coverage:  NEWS.SI  
 
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