AcquisitionsJul 9, 2026, 04:33 PM
NaaS Acquires Target for $15M in Shares; Issues 5M ADSs
AI Summary
NaaS Technology Inc. announced an acquisition for US$15 million, to be satisfied solely through the issuance of 16 billion newly issued Class A ordinary shares, equivalent to 5 million American Depositary Shares (ADSs). The acquisition value was based on an independent third-party valuation report and a reference ADS price of US$3.00. The transaction is subject to various conditions, including regulatory approvals, establishment of a wholly foreign-owned enterprise, and approval by NaaS's Audit Committee. The seller has also agreed to a no-shop covenant.
Key Highlights
- Acquisition consideration is US$15,000,000.
- Payment will be 16,000,000,000 Class A ordinary shares.
- Shares correspond to 5,000,000 ADSs based on US$3.00 per ADS.
- Acquisition value determined by independent third-party valuation report.
- No cash or other consideration is payable by the Company.
- Closing is subject to regulatory approvals and Audit Committee review.
- Seller agreed to a no-shop covenant until closing or termination.
- Long-stop date for closing is December 31, 2026.
Price Impact
More from NAAS