MoneySmart.sg entered into a non-binding heads of agreement to acquire Asia-Pacific Strategic Investments Limited for approximately SGD 220 million in a reverse merger transaction.

MoneySmart.sg entered into a non-binding heads of agreement to acquire Asia-Pacific Strategic Investments Limited (Catalist:5RA) for approximately SGD 220 million in a reverse merger transaction on March 18, 2022. Under the terms, the consideration of SGD 219.3 million will be satisfied by the issuance of new ordinary shares, representing 80% of the enlarged share capital of Asia-Pacific Strategic, subject to any changes and the finalized terms in the definitive agreement(s) to be entered. The transaction remains subject to necessary due diligence on MoneySmart, and to finalize the terms and conditions of the Definitive Agreement.