13th July 2013
"Its SOP-based target price of Catcha Media's 96 sen per share implies a whopping 62 per cent discount of current share prices."
KUALA LUMPUR: The stock market yesterday failed to respond to Catcha Media Bhd’s RM60 million merger deal with Youth Asia Sdn Bhd.
Catcha Media Bhd sealed an agreement with Youth Asia on Thursday to form the country’s largest digital advertising business.
In a stock filing, Catcha Media said it has completed the final stage of the deal, which will see Youth Asia’s Says.com and Catcha Media’s publication and digital business merging into a newco.
Catcha Media will hold a 70 per cent stake in the newco and Youth Asia the remaining.
Youth Asia is the owner of Says Sdn Bhd, which in turn holds Says.com, an online advertising platform that serves more than 80 brands such as Nike, Coca-Cola and Maxis. It has a strong presence in Malaysia, India, the Philippines and Singapore.
