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Story-I Ltd. ( (AU:SRY) ) has issued an announcement.
Story-I Ltd has announced a binding Heads of Agreement to acquire LIT Energy Network Australia Pty Ltd for AUD $8 million. This acquisition aims to bolster Story-I’s growth strategy by integrating LIT Energy’s electric mobility ecosystem, which includes a distribution network for electric motorcycles and charging infrastructure in Vietnam. The acquisition is contingent on several conditions, including shareholder and regulatory approvals. Additionally, Story-I plans to raise AUD $5 million through a placement to support this acquisition and its growth strategy. The company is also preparing for a delisting from the ASX, with plans to seek shareholder approval for the acquisition and related capital raising.
More about Story-I Ltd.
Story-I Ltd operates in the technology sector, focusing on innovative solutions and services. The company is involved in various strategic acquisitions to enhance its market position and expand its service offerings.
Average Trading Volume: 41,750
Technical Sentiment Signal: Sell
Current Market Cap: A$1.51M
See more data about SRY stock on TipRanks’ Stock Analysis page.