Kaynes Tech To Invest $1.03 Million More In Singapore Subsidiary

Kaynes Technology India Ltd. on Wednesday said it will invest up to $1.03 million in its wholly owned subsidiary, Kaynes Holding Pte. Ltd., through the acquisition of up to 1.02 million shares at $1.01 apiece. The transaction is expected to be completed by August 31, the company said in an exchange filing.

Kaynes Holding, based in Singapore, is engaged in electronics system design and manufacturing, and is also making strategic investments and acquisitions, the filing added.

On June 3, Kaynes Technology had said it would invest up to $8.80 million in Kaynes Holding through the purchase of up to 8.71 million shares at the same issue price.