Aurora Italia International Berhad (KLSE:AURORA) signed a conditional share sale agreement to acquire PG Jewel Sdn Bhd from Ng Jing Chia, Ng Yan Xun and Dato Wira Ng Chun Hau for MYR 32 million on January 29, 2021. Under terms, the consideration will be paid 320 million shares at 0.10 per share in Aurora Italia International Berhad. Upon completion of the acquisition PG Jewel Sdn Bhd will become wholly owned subsidiary of Aurora Italia International Berhad. The transaction is subject to due diligence, approval of bursa securities, approval by board and shareholders of Aurora Italia International Berhad and board approval of PG Jewel Sdn Bhd. The conditions are to be fulfilled within 9 months of signing agreement. As of February 23, 2021, the additional listing application in relation to the Proposed Acquisition has been submitted to Bursa Securities. As on March 9, 2021, 320 million new shares of Aurora Italia International Berhad to be given as consideration has been listed. The transaction is expected to complete by first half of 2021. As per announcement made on March 16, 2021, Deal is expected to complete in early April 2021. As per announcement made on March 31, 2021, all conditions has been fulfilled. Completion of the sale and purchase shall take place within 60 business days from the date of fulfilment of the last of the condition precedent. M&A Securities Sdn Bhd acted as financial advisor for Aurora Italia International Berhad
Aurora Italia International Berhad (KLSE:AURORA) completed the acquisition of PG Jewel Sdn Bhd from Ng Jing Chia, Ng Yan Xun and Dato Wira Ng Chun April 9, 2021. 320 million Consideration Shares were listed on LEAP Market of Bursa Malaysia Securities Berhad on April 9, 2021.