KUALA LUMPUR (Dec 29): Impiana Hotels Bhd has proposed to acquire a 30% stake in fintech solution provider Accuventures Sdn Bhd for RM4.2 million. The hospitality operator said the purchase, to be satisfied via Impiana shares, will be split into two tranches: an initial 10% stake, followed by another 20% upon completion of various due diligence processes. Separately, the issuance of consideration shares as settlement of the purchase price will enable the group to conserve cash resources, it added. Impiana was the sixth most active stock on Bursa Malaysia on Wednesday, with 46.02 million shares changing hands. The counter closed one sen or 11.76% lower at 7.5 sen, valuing the company at RM108.3 million.

Source: The Edge Markets December 29, 2021 22:08 UTC