CTOS Digital’s Acquisition of Minority Stake in Juris Technologies Sdn. Bhd.

Rahmat Lim & Partners assisted CTOS Digital Berhad on the acquisition.

CTOS Digital Bhd (KLSE:CTOS) shareholders have given the greenlight for its RM205.8 million acquisition of a 49.0 per cent stake in Juris Technologies Sdn Bhd.

At the extraordinary general meeting, CTOS shareholders also approved the proposed placement entailing the issuance of 166.7 million new shares, representing 7.6 per cent of the total number of its issued shares. 

Based on the illustrative price of RM1.62 each, the placement will potentially raise proceeds of up to RM270 million.

This will be used to fund the JurisTech acquisition of 49 per cent stake, additional 2.25 per cent equity stake in Business Online Public Company Ltd, other acquisitions to be identified and defray placement expenses.

JurisTech is a Malaysian fintech company that specialises in enterprise-class software solutions for banks, financial institutions, insurance and telecommunication companies. 

CTOS Digital operates as a holding company. The Company, through its subsidiaries, offers credit reporting, software development, outsourcing and training, and digital software related services. CTOS Digital serves customers in Malaysia.

The Rahmat Lim & Partners team was led by Partner Ho Wei Lih (Picture). 

Involved fees earner: Wei Lih Ho – Rahmat Lim & Partners;

Law Firms: Rahmat Lim & Partners;

Clients: CTOS Digital Bhd;

Sonia Carcano

Author: Sonia Carcano