HALCYON Agri Corporation Limited is in confidential discussions with "certain parties regarding a potential strategic transaction," the rubber producer said in a filing to the Singapore Exchange (SGX) on Wednesday.
"However, no agreement has been reached and there can be no assurance that an agreement will be concluded," the company added.
Halcyon Agri made this statement in response to a query from the exchange about its counter's share price movement earlier on Wednesday. As at 1.28pm, Halcyon Agri's share price had gained 9.1 per cent to 66 Singapore cents in trading on Wednesday.
"The board also notes strong price increases across the relevant rubber futures markets today," Halcyon Agri said.
"The company will, in compliance with its obligations under the listing manual of the SGX-ST, make the relevant announcements on SGXNET if or when required."
The company also said that the board was not aware of any other possible explanation for the trading of its shares.