https://businessaustralianews.com.au/blog/top-business-news-in-australia-20-june-2024
Campana Group Eyes $400 Million Reverse Takeover via ASX Listing
Singapore-based Campana Group, backed by Japan’s Mitsui, is planning a major $400 million reverse takeover to list on the ASX. This backdoor listing will leverage its partnership with Australian cloud services provider, Nexion Group.
Details of the Reverse Takeover
Campana plans to execute this listing with assistance from CLSA Australia. Nexion, which suspended trading in April, offers a range of cloud computing services across multiple regions. The challenge lies in convincing existing shareholders to meet the ASX’s 20% free float requirement.
Investor roadshows and formal investor engagement are slated to begin later in the year. Founded by aerospace engineer Myint Ohn, Campana provides crucial connectivity and cloud services in Southeast Asia.
https://businessaustralianews.com.au/blog/top-business-news-in-au...
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