Netpluz Asia PTE Ltd entered into a sale and purchase agreement to acquire NexWave Telecoms Pte. Ltd. from TeleChoice International Limited (SGX:T41) for SGD 0.03 million on May 31, 2023. As part of the acquisition, Netpluz Asia acquired 6.66 million shares of NexWave for an aggregate consideration of SGD 0.03 million, subject to adjustment. The consideration will be satisfied fully in cash. Upon completion, NexWave will be ceased to be a subsidiary of TeleChoice. As of December 31, 2023, NexWave reported a negative net asset value of approximately SGD 2.7 million and a net loss of approximately SGD 1.4 million. The transaction expected to close on May 31, 2023. TeleChoice intends to use the net proceeds arising from the disposal for general working capital purposes.

Netpluz Asia PTE Ltd completed the acquisition of NexWave Telecoms Pte. Ltd. from TeleChoice International Limited (SGX:T41) on June 1, 2023.