Avanceon's Empiric AI shares heading to Octopus Digital

By MG News | December 22, 2023 at 02:23 PM GMT+05:00

0:00

December 22, 2023 (MLN): Avanceon’s shareholders on Friday resolved to transfer the entirety of 47.5 million ordinary shares of its wholly-owned subsidiary, Empiric AI (Private) Limited, representing 100% of its issued capital, to Octopus Digital Limited (PSX: OCTOPUS).

The transaction, valued at Rs440m will be settled through adjustments of short and long-term loans/liabilities as per the terms outlined in the EPL Business Transfer/Sale Agreement.

It was further resolved that Octopus Digital FZ-LLC, Dubai, UAE, a wholly owned subsidiary of the company invest $2.5mn in Octopus Digital Inc. Pennsylvania USA (formerly Engro Innovative, Inc.) by way of purchase/acquisition of its entire shareholding.

Octopus Digital Inc is a wholly owned subsidiary of Avanceon FZE, Dubai, UAE, which in turn is the wholly owned subsidiary of Avanceon Limited.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.51	68.89 67.75	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%