18 Feb 2016
Proposed Placement of Shares and Memorandum of Undertaking
Danny Lim, Mark Wong and Caitlin Huang from the Capital Markets / Mergers & Acquisitions Practice Group acted for Dapai International Holdings Co. Ltd., which is listed on the Main Board of the Singapore Exchange, in its S$1.59 million private placement of shares, in conjunction with a proposed reverse takeover involving the acquisition of a substantial stake in Smart Traffic Co., Ltd. and a transfer of the company's Main Board listing to Catalist Board. The placement proceeds will be utilised for payment of costs and expenses in connection with the reverse takeover.
Dapai is one of the largest branded backpack company in the PRC and designs, develops, manufactures and sells backpacks under the DAPAI brand, whereas Smart Traffic is a system integrator in Thailand providing solutions based on contactless smart card, and provides a wide range of cutting-edge software solutions and integrated hardware components for toll revenue collection systems, parking revenue collection and management systems, pre-paid cash card systems, reward and loyalty management systems, access control systems, and traffic management systems to both private enterprises and government agencies. Amongst others, its clients include the Department of Highway, Expressway Authority of Thailand, Central Group, Siam Paragon, Emporium Shopping Complex, The Mall Group, and Major Cineplex Group.