CTOS Digital buys minority stake in RAM for RM10m

TheStar Thu, Jul 29, 2021 01:34pm - 2 years View Original


CTOS Digital group chief executive officer Dennis Martin (pic) said: “We believe there are strong synergies in both product offerings and customer base between both companies which we will look to realise on moving forward.”

KUALA LUMPUR: Credit reporting company CTOS Digital Bhd is buying a 4.6% stake in rating agency RAM Holdings Bhd from CIMB Bank Bhd for RM10.05mil.

In a filing with Bursa Malaysia on Thursday it had entered into a share purchase agreement with CIMB to buy the stake, comprising 462,500 shares.

This is the first acquisition for CTOS Digital after its listing on July 19. The flotation exercise drew very strong interest from institutions and investors.

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