Japanese firm expands eChanneling stake to 29.8%

Wednesday, 2 October 2013 01:53 -     - {{hitsCtrl.values.hits}}

British American Technologies sell 15% stake for Rs. 163 m from its 28% holding Singapore-based firm Senior Marketing System Asia Pte Ltd., a subsidiary of Japan’s public quoted SMS Co Ltd., yesterday expanded its stake in eChanneling Plc to 29.8% from a 15% holding previously. The move follows the company buying 18.079 million eChanneling shares (trading XD) at Rs. 9 per share in a deal worth Rs. 162.7 million.  The seller was British American Technologies which as at June 2013 held a 27% stake. Late last month, SMS acquired 18.32 million shares at Rs. 8.50 each in a deal worth Rs. 156 million from Capital Trust Holdings (12.7 million shares) and others. JB Cocoshell holds a 19.7% stake in eChannelling, the country’s pioneering ecommerce company focusing on healthcare business. SMS Co is mainly engaged in the daily and non-daily businesses in nursing care, healthcare and overseas fields. It also has subsidiaries in China, Korea, Malaysia, Indonesia, Thailand, Vietnam, India and Philippines.