Andy Quak, W3’s deputy chairman and majority shareholder, today reported at a shareholders briefing that W3 has executed a sales and purchase agreement for cash exit of an investment submitted for SGX Mainboard IPO at more than 100% gain. He added, “W3 expects further cash exit from another major trade sales in 2007. W3 will also continue to make quality pre-IPO and pre-trade sale investments that can yield good returns within 2 years. Peach is already traded on London Ofex and looking to step-up to AiM or other recognized exchange. W3 is focused on putting another investee on a recognized exchange in 2007”.

 

About W3 Infocomm Group Pte Ltd
W3 Infocomm Group is an investment holding company with sterling track records in investing and raising subsequent round funding for start-ups and early stage companies. With some of its portfolio companies now actively in the process of M&A and IPO, W3's investment focus has shifted from what was primarily early stage investment in infocomm and media companies to quality investments in late stage, pre-IPO and pre-trade sales companies. Shareholders of W3 and its investee companies include Temasek Holdings (Pte) Ltd [via its 100% held Greendot Capital Pte Ltd], SingTel Group, Singapore Technologies Electronics Ltd, Gemplus-EDB Smart Labs Pte Ltd and PrimePartners Group, a US$300 million venture capital fund.