March 29 (SeeNews) - Bulgarian IoT products maker Allterco [BUL:A4L] said that it has received a 2.1 million euro ($2.5 million) indicative offer from Singapore-based company Skylight Venture Capital Pte. for the sale of its telecommunications business in Asia.
The offer includes Allterco's interest in Allterco Pte. (Singapore), Allterco Sdn. (Malaysia), and Allterco Co. (Thailand), the Bulgarian IoT company said in a stock exchange filing on Friday.
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The offered price is subject to negotiations following a detailed due diligence, Allterco noted.
According to data from its financial statement, Allterco owns 100% of Allterco Pte. (Singapore) and Allterco Sdn. (Malaysia), and 49% interest in Allterco Co. (Thailand).
Allterco decided to divest its telecommunications business in Asia in December 2019, after completing the sale of its telecommunications business in Europe to Norway's Link Mobility Group for some 7.9 million euro.
($ = 0.8489 euro)