Netrove is delighted to announce the successful investment by Beijing Shiji Information Technology Co., Ltd, (“Shiji Information”) a company principally engaged in the development and sale of systems and solutions for the hospitality industry. Following the investment, Shiji Information acquired shares from existing shareholders which include Netrove. Netrove advised on the investment as well as the share acquisition transaction.
Netrove’s Executive Chairman Mr Teh commented, “We are proud to be at the forefront of this deal, from origination to successfully lead managing the whole transaction. This exercise reflects our continuous value adding efforts post-IPO from the business aspect as well as obtaining premium valuation from a strategic investor. We are also glad to facilitate in meeting the objective of Shiji Information holding 20% of Galasys as after the sale, we remain a supportive and significant shareholder. We look forward to seeing the synergistic benefits of the 2 companies being realized over time.”
