Sanichi Technology Berhad (KLSE:SANICHI) entered into a share sale agreement to acquire 50% stake in Bina Bicara Sdn Bhd from Saifulrizam Bin Zainal for MYR 0.5 million on April 6, 2018. Sanichi will acquire 0.5 million shares. The proposed acquisition will be funded from internally generated funds. Upon completion, Bina Bicara Sdn will become a subsidiary of Sanichi. The transaction is subject to Saifulrizam Bin Zainal having obtained the waivers of pre-emption rights in respect of the sale shares and there being no breach of warranties, undertakings or covenants on part of Saifulrizam Bin Zainal. The transaction is expected to complete by second quarter of 2018.