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BlackGold gains 12.5% on proposed reverse takeover

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Lisa Kriwangko

Published Fri, Apr 9, 2021 · 09:50 PM
On the rise

Singapore

SHARES of BlackGold Natural Resources rose 12.5 per cent on Friday, after the Catalist-listed company proposed to acquire Tengri Coal and Energy (TEC) for a tentative S$1 billion - to be adjusted following an independent valuation.

TEC owns the entire issued and paid-up share capital of Tengri Petrochemicals (TPL), which in turns owns the share capital of Tsaidam Energy.

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