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Hot Stock REV Asia (formerly Catcha Media) among top gainers on plans to dispose Aussie firm stake

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Hot Stock REV Asia (formerly Catcha Media) among top gainers on plans to dispose Aussie firm stake Empty Hot Stock REV Asia (formerly Catcha Media) among top gainers on plans to dispose Aussie firm stake

Post by Cals Tue 09 Sep 2014, 17:22

Hot Stock REV Asia (formerly Catcha Media) among top gainers on plans to dispose Aussie firm stake
Business & Markets 2014
Written by Surin Murugiah of theedgemalaysia.com   
Tuesday, 09 September 2014 09:08

KUALA LUMPUR (Sept 8): Shares of REV Asia Bhd, formerly Catcha Media Bhd were among the top gainers in early trade on Tuesday after it 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.

At 9.04am, REV Asia shares jumped 32 sen to RM1.39 with 196,800 shares traded.

In a filing to Bursa Malaysia Monday, 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.
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