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ValueMax acquires Sengkang Pawnshop for $3.6 mil

Michelle Zhu Published on Wed, Sep 27, 2017 / 6:33 PM GMT+8

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SINGAPORE (Sept 27): ValueMax, the operator of pawnbroking and moneylending services, is purchasing all of Sengkang Pawnshop’s 2,470,000 shares for a consideration of $3.6 million.

The consideration is to be fully satisfied in cash, which the group says it will fund by its internal resources.

In a regulatory filing on Wednesday, ValueMax says it expects its latest acquisition to provide the group an additional revenue stream, and that the deal is in line with its expansion strategy.

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ValueMax acquires Sengkang Pawnshop for $3.6 mil