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Avi-Tech Holdings Pte. Ltd. ( (SG:1R6) ) has issued an update.
Avi-Tech Holdings Limited has entered a new phase of ownership with Global Wave Venture Pte. Ltd. acquiring about 29.9% of its issued shares from founder Mr. Lim Eng Hong and related parties for S$17 million, signalling a major strategic investment in the Singapore electronics services group. The transaction was arranged by W Capital Markets Pte. Ltd., giving Global Wave a significant minority stake that could influence the company’s future strategic direction.
Following the deal, Mr. Lim Eng Hong has stepped down as Executive Director, Chief Executive Officer and Executive Chairman of Avi-Tech Holdings, while remaining Chief Executive Officer of key subsidiary Avi-Tech Electronics Pte. Ltd. His relative, Mr. Lim Tai Meng Alvin, has resigned as Executive Director and Chief Operating Officer of the listed company but continues as Chief Operating Officer of the subsidiary, as the group reshapes its leadership to align with its new shareholder base.
With a refreshed board and management structure and a new strategic shareholder, Avi-Tech says it is positioning itself for sustainable growth and long-term value creation for investors. The company indicates that further disclosures will follow in line with listing rules, suggesting continued governance oversight and potential operational or strategic adjustments ahead.
More about Avi-Tech Holdings Pte. Ltd.
Avi-Tech Holdings Limited is a Singapore-based provider of electronics-related services, operating through subsidiary Avi-Tech Electronics Pte. Ltd. in areas such as testing and related solutions for the semiconductor and electronics industries. The Group focuses on supporting electronics manufacturing and technology customers, positioning itself within regional and global supply chains.
Average Trading Volume: 178,607
Technical Sentiment Signal: Buy
Current Market Cap: S$38.49M
For a thorough assessment of 1R6 stock, go to TipRanks’ Stock Analysis page.