SG brief: Watches.com

Vintage watches. Photo by Janos Venczak on UnsplashVintage watches. Photo by Janos Venczak on Unsplash

Watches.com said Friday it would undertake a capital reduction to S$28.06 million from the current S$30.93 million to write off its accumulated losses of S$2.87 million.

After the capital reduction is completed, Watches.com will give its shareholders a distribution in specie of 300 million warrants of Incredible Holdings, or 0.575 Incredible warrant for every one Watches.com share, the company said in a filing to SGX.

Watches.com was formerly named Ntegrator International.