Menafn.com 15 Aug 2013
Beijing Toread Outdoor Products Co., Ltd. said today that it has signed an agreement to buy 40 million new shares in AsiaTravel.com Holdings Ltd.
Under the agreement, Toread Outdoor will buy the shares at SGD 0.2 per share or SGD 8 million in total in a deal that will make it the biggest single shareholder of AsiaTravel.com with a 14.15% ownership.
Toread Outdoor will be entitled to nominate a non-executive director at AsiaTravel.com after the deal. AsiaTravel.com, set up in 1999, provides online traveling services in 17 countries and regions like Singapore, Malaysia and China.