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Re: maynerd post# 18093

Thursday, 07/30/2015 2:07:47 PM

Thursday, July 30, 2015 2:07:47 PM

Post# of 112195
Kina is completing purchase of Maybank from its IPO proceeds:

http://www.afr.com/markets/equity-markets/pngs-kina-securities-jumps-almost-a-third-on-asx-debut-20150730-ginsrn

About $77 million from the capital raising will go towards the acquisition of another Papua New Guinea financial company, the Maybank Group, and covering the costs of listing.

"The most important thing for us is integrating the acquisition as efficiently as possible," Mr Yates said. "The Maybank purchase completes on the last day of August and we're well on track for that."

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This acquisition will solidify their placement and customer base in the region, thus enabling IGEX to become profitable.

That's how I understand it.
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