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REV Asia (formerly Catcha Media) to sell stake in ASX-listed iCar Asia

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REV Asia (formerly Catcha Media) to sell stake in ASX-listed iCar Asia Empty REV Asia (formerly Catcha Media) to sell stake in ASX-listed iCar Asia

Post by Cals Tue 09 Sep 2014, 02:23

REV Asia (formerly Catcha Media) to sell stake in ASX-listed iCar Asia
Business & Markets 2014
Written by theedgemalaysia.com   
Monday, 08 September 2014 22:39

KUALA LUMPUR (Sept 8): REV Asia Bhd, formerly Catcha Media Bhd, has proposed to dispose up to 52.5 million shares or 27.2% of Australia Stock Exchange (ASX)-listed iCar Asia Ltd at a disposal price to be determined later.

In a filing to Bursa Malaysia today, REV Asia said it had proposed to dispose the shares in the open market of the ASX or through off-market disposal to third party investors.

iCar Asia is principally engaged in the business of developing and operating car classifieds and content websites primarily in Malaysia, Indonesia, and Thailand. 

In addition, iCar Asia owns and operates online automotive portals, including Carlist.my and LiveLifeDrive.com in Malaysia; thaiCar Asia.com and autospinn.com in Thailand; and mobil123.com in Indonesia. It also publishes Malaysian EVO, a motoring magazine in Malaysia.

According to Bloomberg, iCar Asia had a market capitalisation of A$275.3 million (RM815.7 million), while REV Asia’s market capitalisation stood at RM144.1 million as of today's market close.
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