Brief: PSI Group Plans To List On Nasdaq Through Merger With AIB Acquisition Corp

PS International

28/12/2023 01:59

Dec 27 (Reuters) - Aib Acquisition Corp  AIB.O :
    * PSI GROUP, A LONG-ESTABLISHED GLOBAL LOGISTICS SERVICE
PROVIDER,
PLANS TO LIST ON NASDAQ THROUGH MERGER WITH AIB ACQUISITION
CORPORATION
    * BUSINESS COMBINATION VALUES PSI AT A TOTAL PRE-MONEY
ENTERPRISE
VALUE OF APPROXIMATELY US$200 MILLION
    * BOARDS OF PSI AND AIB HAVE UNANIMOUSLY APPROVED BUSINESS
COMBINATION, WHICH IS EXPECTED TO BE COMPLETED IN Q1 OF 2024
    * UPON CLOSING, BOTH AIB AND PSI WILL BECOME WHOLLY-OWNED
SUBSIDIARIES OF PS INTERNATIONAL GROUP LTD. ("PUBCO")
    * FOLLOWING CLOSE OF BUSINESS COMBINATION, PSI EXPECTS TO
CONTINUE
TO BE LED BY YEE KIT CHAN AS CHAIRMAN OF BOARD OF PUBCO

Source text for Eikon:  ID:nGNXc8fGJm 
Further company coverage:  AIB.O 

 ((Reuters.Briefs@thomsonreuters.com;))