United Fiber System S$1.88 billion acquisition of Golden Energy Mines

Overview:

• United Fiber System (UFS) has acquired a 67% stake in Golden Energy Mines for S$1.88 billion from Dian Swastika Sentosa (DSS).
• UFS, a company listed on the Singapore Stock Exchange, issued new shares as consideration for the acquisition, resulting in DSS acquiring more than 90% of UFS’s enlarged share capital.
• The reverse takeover will give Golden Energy Mines presence on the Singapore Exchange.
• Once complete, this acquisition will be one of the largest reverse takeovers in Singapore's corporate history.

Katrin Kostadinova - Data analyst