- Shares in Superloop (SLC) soar in early trade after the broadband provider announces it is selling some of its Asian assets for $140 million
- Superloop will sell the assets to Colombia Capital and DigitalBridge Investment Management at a 30 per cent premium on the assets’ current carrying value
- Superloop CEO and Managing Director Paul Tyler says the sale will “release significant shareholder funds and redeploy them into more strategically aligned assets”
- As part of the deal, Superloop will pay the buyers $15 million for a 15-year indefeasible right of use (IRU) over the sold Hong Kong and Singapore assets
- Shares in Superloop are up 11.9 per cent and trading at $1.09 each at 10:55 am AEST
Shares in Superloop (SLC) are soaring in early trade after the broadband provider announced it was selling some of its Asian assets for $140 million.
The company will sell its Hong Kong operations and some select Singapore assets to Colombia Capital and DigitalBridge Investment Management.
According to Superloop, the $140 million price tag represents a 30 per cent premium on the carrying value of the assets, which currently sits at $108 million.
Superloop CEO and Managing Director Paul Tyler said the sale came as part of the company’s strategy to recycle and re-invest key business capital.
“This sale of our Hong Kong business and select Singapore assets, at a premium to their carrying values, allows the company to release significant shareholder funds and redeploy them into more...
Read Full Story: https://themarketherald.com.au/superloop-asxslc-shares-rise-on-140m-sale-of-hk-singapore-assets-2021-10-18/
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