KUALA LUMPUR: Reach Ten Holdings Bhd
has invested US$1mil (about RM4mil) in Space Exploration Technologies Corp (SpaceX) via a fund managed by Alta Fund Management.
In a statement, the Sarawak-based telecommunications service provider said the investment in the Elon Musk-controlled aerospace and satellite communications company was made in Alta's AAF4 Class A-4 Participating Shares, which provides the company with an estimated indirect exposure of about 4,167 SpaceX shares.
The group’s investment was made at an estimated entry price of US$240 per share, equivalent to approximately US$48 per share on a post-split basis.
Based on SpaceX’s IPO reference price of approximately US$135 per share, the indicative value of the underlying exposure would be approximately US$2.81mil.
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