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Stocks to watch: Noble Group, Tee International and Advancer Global
STOCKS to look out for on Monday morning trading include Noble Group, Tee International and Advancer Global.
Noble Group: Beleaguered commodities trader Noble on Monday announced that its green tech subsidiary Talaxis is acquiring a 49 per cent stake in a rare earths projects undertaken by Toronto-listed Mkango Resources for £14 million (S$25 million). Talaxis has proposed to invest £12 million in Lancaster Exploration, a wholly owned subsidiary of Mkango for the development of the Songwe Hill rare earths project in Malawi.
TEE International and Advancer Global: Mainboard-listed TEE International and Catalist-listed Advancer Global Limited and a financial investor are acquiring privately held waste management provider Chiang Kiong Environmental for S$18.5 million. TEE will hold a majority stake of 50.1 per cent in the joint venture through a wholly owned subsidiary, Advancer Global will hold a 20.1 per cent stake and the independent third party financial investor which is a business associate of TEE, will hold the remaining 29.8 per cent.