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Sunzen Biotech to acquire Finsource Solution, diversify into money-lending

12 Jan 2021 / 23:45 H. PETALING JAYA: Sunzen Biotech Bhd aims to diversify into the money-lending business with the proposed acquisition of the entire equity stake in Finsource Solution Sdn Bhd via a conditional share sale agreement for RM6.8 million. According to its Bursa filing, the acquisition will be satisfied by the allotment and issuance of 41.21 million new ordinary shares in the group at an issue price of 16.5 sen. The issue price represents its five-day volume weighted average market price on Jan 11, 2021 and takes into account Sunzen’s historical share price. It stated that due to the interest of Teo Yek Ming and Ching Chee Pun in both parties, the transaction is deemed as a related party transaction pursuant to Bursa Malaysia’s ACE Market listing requirements.

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