Joyas gets nod for new nickel business, rights issues
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Singapore
METAL knick-knacks maker Joyas International Holdings has received shareholder approval to diversify into nickel distribution and trading, and will undertake warrant-and-convertible rights issues to raise capital for the new business.
The approval will allow Joyas to take a 70 per cent stake in nickel trader and distributor Hong Kong Silver Basic Group (HK Silver) for a cash consideration of HK$700,000 (S$120,700). Existing HK Silver shareholders will retain the remaining 30 per cent interest in it.
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