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BRIEF-New silkroutes to acquire 80 pct stake in CG Capital Markets
February 3, 2017 / 12:59 AM / 8 months ago

BRIEF-New silkroutes to acquire 80 pct stake in CG Capital Markets

Feb 3 (Reuters) - New Silkroutes Group Ltd

* New silkroutes group to take 80% stake in new york broker-dealer and investment bank CG Capital Markets for us$14.4m

* Will issue additional new shares worth up to us$9.6 million if cgcmh and its units meet certain after-tax profit targets over three years from 2017

* Post-acquisition, us companies will operate under brand name of NSG’s wholly-owned investment arm, New Silkroutes Capital

* Will issue new shares to fund acquisition and issue price per share will be three singapore cents above average closing price of nsg’s shares Source text for Eikon: Further company coverage:

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