NeraTel in advanced discussions to sell payments business

NERA Telecommunications (NeraTel) is currently at an advanced stage of discussions with a third party on the possible sale of its payment solutions business, the company said on Friday morning.

The disclosure was made in response to a Singapore Exchange (SGX) query on Thursday after an unusual spike in NeraTel's share price.

NeraTel said: "While discussions are continuing, no binding agreement has been reached and there is no assurance that the transaction will actually proceed. If a definitive transaction takes place, it would be subject to, amongst other things, shareholders' approval."

Before a trading halt on Thursday, NeraTel was trading at S$0.67, up S$0.05 or 8 per cent from a day ago. The stock had risen 26 per cent from a low of S$0.53 earlier this month.