Intraco Unit to Receive SG$2.5 Million Investment from Oman

MT Newswires

Yesterday

Intraco's (SGX:I06) subsidiary, iChange, signed a subscription agreement with Muscat Precious Metals Refining Company which will subsribe for 320,200 shares in the unit for SG$2.5 million, according to a Monday filing with the Singapore Exchange.

The subscription will dilute the trading and distribution company's stake in the Singapore-license payment institution to around 64.6%.

The investment recapitalizes iChange and funds its business plans, with the two parties set to explore expanding into Oman and the Middle East.

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