Shen Yao Signs Deal to Acquire Zion Mobility for Up to SGD 58.05 Million

• Shen Yao Holdings signed an agreement on October 19, 2026, to acquire electric two-wheeler maker Zion Mobility for up to SGD 58.05 million.
• Zion Mobility Holdings will acquire 100% of the target through 207,321,428 new shares issued at SGD 0.28 each, with no cash consideration.
• The restructuring will transfer the listing to Zion Mobility Holdings, which will sell the existing group to Wu Zhou for SGD 1.
• A related debt conversion will settle SGD 3.89 million through new shares, preserving cash as the group shifts into electric mobility.
• The interdependent transactions remain subject to shareholder and regulatory clearances, with a June 30, 2027, deadline for satisfying or waiving conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Shen Yao Holdings Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: CUA3I6QA3F4QZPWC) on October 19, 2026, and is solely responsible for the information contained therein.