Proactiveinvestors Australia

iCar Asia Ltd

iCar Asia Ltd (ASX:ICQ) is focused on developing and operating leading automotive portals in Malaysia, Indonesia and Thailand.


iCar Asia snares $13.4M investment from

Friday, March 15, 2013 by Proactive Investors

iCar Asia snares $13.4M investment from

iCar Asia (ASX: ICQ) has secured a $13.4 million investment from (ASX: CRZ).

The companies will form a strategic relationship and a carsales representative will join the iCar Asia Board.

carsales will subscribe for shares at a price of $0.375 per share, equating to a total consideration of approximately A$13.4m.  iCar Asia last traded at $0.30.

All proceeds will remain in the iCar Asia business.

iCar Asia owns and operates a network of online automotive sites in ASEAN with operations in Thailand, Malaysia and Indonesia reportedly reaching 1.5 million people every month.

Brands include and in Thailand, and in Malaysia and in Indonesia.

iCar Asia Chairman, Patrick Grove said he was looking forward to working with the carsales team to continue to accelerate iCar Asia’s growth.

The deal is subject to iCar Asia shareholder approval as well as having a number of conditions.

iCar Asia has a market cap. of about $16 million while has a market cap of around $2.1 billion.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Sign up to Proactive Investors

Receive Proactive Investors Newsletter, Investor Forum Invites
Receive Proactive Investors Newsletter, Event Invites, Special Stock Notifications

Comments from Proactive Investors readers

  • Fill in your details below:
Verification Code

Copyright ©, 2012. All Rights Reserved