Cortina Holding says it is exploring M&A opportunities but no firm deal as yet

Tay Peck Gek

Published Sun, Aug 23, 2020 · 08:40 AM

LUXURY watch retailer Cortina Holding said that it occasionally explores possible merger and acquisition opportunities including that with Sincere Watch Limited, but added that it has not inked any definitive agreement for the rumoured acquisition of the latter.

In a regulatory statement on Saturday, the retailer made the clarification as it noted a report by The Business Times about rumours that it is considering buying the privately-held Sincere Watch.

"The company will, in compliance with the relevant requirements under the listing manual of the Singapore Exchange Securities Trading Limited, make announcements as required if any such merger and acquisition opportunities crystalise or any significant developments arise," said Cortina.

The mainboard-listed retailer ended Friday with a S$0.10 or 6.25 per cent decline in its share price to S$1.50 on cum-dividend trading.