General Announcement::DBS DIVESTS MAJORITY STAKE IN AXS PTE. LTD. TO TOWER CAPITAL ASIA

Issuer & Securities

Issuer/ Manager
DBS GROUP HOLDINGS LTD
Securities
DBS GROUP HOLDINGS LTD - SG1L01001701 - D05
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
11-Jul-2023 07:36:07
Status
New
Announcement Sub Title
DBS DIVESTS MAJORITY STAKE IN AXS PTE. LTD. TO TOWER CAPITAL ASIA
Announcement Reference
SG230711OTHRRKG7
Submitted By (Co./ Ind. Name)
MARC TAN
Designation
GROUP SECRETARY
Description (Please provide a detailed description of the event in the box below)
DBS Group Holdings Ltd today announced that its wholly-owned subsidiary, DBS Bank Ltd ("DBS"), has entered into an agreement to sell a 77.8% stake in AXS Pte. Ltd. ("AXS"). Following the close of the transaction, which is expected by August 2023, DBS will continue to retain a minority stake of 9.9% in AXS.

Please see attached for more details.

Attachments

DBS divests majority stake in AXS to Tower Capital Asia.pdf
Total size =124K