V2Y Corporation Ltd. (Catalist:V2Y) have issued a non-binding letter of offer to an unknown insurance company to acquire its general insurance business portfolio for SGD 20 million on February 22, 2022. The acquisition is subject to approval from shareholders and board of directors of acquirer and seller. Th e transaction is subject consummation of due diligence investigation of sellers business.

The transaction is subject to approval from regulatory board and third party and it is also subject to execution of employment agreement.