EQR determined an enterprise Value (EV) of A$13.5M for Tungsten...

EQR determined an enterprise Value (EV) of A$13.5M for Tungsten Metal Group. The acquisition of 100% is to be satisfied by the issue of 170M shares in EQR and a payment of A$2.5M. Operating since 2011, the production capacity of these facilities represents >80% of ferrotunsten (FeW) capacity installed outside of China and Russia.

That means there is issuance of shares (170M) for A$11.0 million value...which translates to S$0.0647 per share...a good premium to last fri's current price. Looks like EQR team did another good job in this downstream acquisition.