Inactive Instrument

Challenger Technologies Limited

Equities

573 SG1O97915910

Computer & Electronics Retailers

DigiTech Holding to buy Singapore's Challenger Technologies for about $170 million

May 30, 2023 at 07:05 am EDT

(Reuters) - DigiTech Holding proposed to acquire Singapore's Challenger Technologies in a deal that values the technology services provider at S$225 million (about $170 million), DigiTech's financial adviser United Overseas Bank (UOB) said on Tuesday.

DigiTech will pay S$0.56 per share to shareholders of Challenger Technologies, representing a premium of about 1.8% to Challenger's last close of S$0.55 on Monday

Shares of Challenger Technologies have fallen 11.1% so far this year. The company's profit attributable came in at S$5.1 million for six months ended Dec. 31, as compared with S$8.4 million a year earlier.

($1 = 1.3245 Singapore dollars)

(Reporting by Upasana Singh in Bengaluru; Editing by Savio D'Souza)

Latest news about Challenger Technologies Limited

Challenger Technologies Delists from Singapore Exchange as Bidder Completes Compulsory Acquisition	23-09-10	MT
Challenger Technologies Bidder Exercises Right of Compulsory Acquisition Under Privatization Offer	23-09-04	MT
Challenger Technologies' Takeover Offer Closes	23-07-26	MT
Loo Leong Thye, Chief Executive Officer and Executive Director of Challenger Technologies Limited, Loo Pei Fen, Chief Marketing Officer of Challenger Technologies Limited, Ong Sock Hwee, Loo Wei Kiat along with Dymon Asia Private Equity (S.E. Asia) Fund II Pte. Ltd. managed by Dymon Asia Capital Pte. Ltd. completed the acquisition of 97.8% stake in Challenger Technologies Limited from its shareholders for SGD approximately 240 million.	23-07-24	CI
Singapore Exchange Has No Objection to Proposed Delisting of Challenger Technologies	23-07-21	MT
Challenger Technologies Bidder Extends Closing Date of Privatization Offer	23-07-13	MT
Bidder's Ownership in Challenger Technologies Crosses 97%	23-07-12	MT
Bidder's Ownership in Challenger Technologies Nears 74%	23-07-05	MT
Bidder's Ownership in Challenger Technologies Nears 73%	23-06-29	MT
Challenger Technologies Loses Public Float	23-06-26	MT
Bidder's Ownership in Challenger Technologies Crosses 71%	23-06-23	MT
Bidder's Ownership in Challenger Technologies Crosses 70%	23-06-20	MT
Bidder's Ownership in Challenger Technologies Nears 68%	23-06-16	MT
Bidder's Ownership in Challenger Technologies Crosses 66%	23-06-14	MT
Bidder's Ownership in Challenger Technologies Crosses 65%	23-06-12	MT
DigiTech Holding to buy Singapore's Challenger Technologies for about $170 million	23-05-30	RE
Loo Leong Thye, Chief Executive Officer and Executive Director of Challenger Technologies Limited, Loo Pei Fen, Chief Marketing Officer of Challenger Technologies Limited, Ong Sock Hwee, Loo Wei Kiat along with Dymon Asia Private Equity (S.E. Asia) Fund II Pte. Ltd. managed by Dymon Asia Capital Pte. Ltd. made an offer to acquire the remaining 35.24% stake in Challenger Technologies Limited from its shareholders for SGD 84.9 million.	23-05-29	CI
Singapore Shares Start Week in Red; Far East Orchard Climbs 1% as Q1 Profit Balloons Nearly 68%	23-05-08	MT
Challenger Technologies Unit Disposes of Entire 70% Stake in Incall Systems	23-05-07	MT
Challenger Technologies Limited Announces Appointment of Choo Yiang Hong, Francis as Independent Director	23-05-02	CI
Challenger Technologies Unit Disposing of Entire 70% Stake in Incall Systems	23-05-01	MT
Challenger Technologies Limited Approves Final Tax-Exempt (One-Tier) Dividend for the Financial Year Ended 31 December 2022	23-04-26	CI
Challenger Technologies Limited Announces Cessation of Tan Chay Boon as Independent Director	23-04-17	CI
Challenger Technologies Limited Proposes Final Dividend for the Financial Year Ended 31 December 2022	23-04-04	CI
Challenger Technologies' Profit Drops 40% in July-December 2022	23-02-20	MT

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Company Profile

Challenger Technologies Limited is a Singapore-based company engaged in the retailing of information technology (IT) products at its retail outlets and online marketplace. The Company's segments include IT products and services segment, which is engaged in retailing of IT products including personal computers, notebooks, printers, smart home peripherals, mobility devices and software; Electronic signage services segment, which is engaged in the supply and installation of electronic signages and provision of electronic signage services, and Telephonic call centre and data management services segment, which carries on the business of telephonic call center, data management services and direct marketing services. Its product categories include electrical hardware, input devices, mobile computing hardware, printing devices, accessories, office products, desktops, data communication products, storage devices, multimedia products, software, digital gadgets and home entertainment appliances.

Sector

Computer & Electronics Retailers

Calendar

2024-07-31 - Q2 2024 Earnings Release (Projected)

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