In a bourse filing on Dec 31, Coliwoo says a sum of $2 million was paid to the seller as a deposit on Nov 20. The remaining balance of $38 million was paid on Dec 31 and was funded using a combination of bank borrowings as well as the joint venture’s internal resources. Coliwoo says it funded its proportionate share of the purchase of $3 million from its IPO proceeds.
Coliwoo made its trading debut on the mainboard of the SGX on Nov 6 at an IPO price of 60 cents. The company raised approximately $101 million when it went public.
Coliwoo shares closed flat at 55.5 cents on Dec 31.
