SINGAPORE (April 4): Affinity Capital, a wholly-owned subsidiary of telecom and IT service provider Si2i Limited, has entered into an agreement with SB ISAT Fund to acquire from it an e-commerce platform.

As payment for the acquisition, Affinity will be issuing 22,499,998 new ordinary shares its company to SB ISAT Fund at an issue price of 28 cents for each consideration share.

The transaction is dilutive of Si2i’s equity in Affinity, and will reduce the group’s stake in the company from 100% to 50% plus one ordinary share issued in the capital of Affinity.

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