Kuala lumpur: All In FutureTech Alliance Inc (AIFA) has announced the filing of a Current Report on Form 8-K with the United States Securities and Exchange Commission, offering additional details on its anticipated acquisition of HyalRoute Fiber Optic Group. The acquisition is set at a price of US$10.00 per share, with the exchange rate noted as US$1 equaling RM3.96.

According to BERNAMA News Agency, the filing contains supplementary data provided by the seller, shedding light on HyalRoute's operational scope, infrastructure assets, strategic market positioning, and financial performance. HyalRoute is reported to manage approximately 85,000 kilometers of fibre-optic backbone networks within ASEAN regions and holds interests in international submarine cable systems that extend across Asia, Africa, and Europe.

The report highlights HyalRoute's involvement in backbone connectivity, cross-border data transmission, and related infrastructure services, with active operations in countries such as the Philippines, Cambodia, Myanmar, Laos, and Thailand. In addition to its existing fibre-optic network activities, HyalRoute is also engaged in developing computing infrastructure initiatives in the region.

The disclosure also provides a historical financial overview, noting revenue growth before the COVID-19 pandemic, a decline during 2020 and 2021, and subsequent recovery in recent years. Furthermore, the filing mentions historical third-party valuation assessments from investment banks related to a previously considered listing, which was later retracted following the pandemic's onset.