Grand Venture Tech in talks with third party for potential share subscription

GRAND Venture Technology on Monday said it is in discussions with a third party regarding a potential subscription of new shares in the company.

The Catalist-listed manufacturing service provider also understands that the third party is in talks to potentially acquire shares from certain existing shareholders.

Grand Venture Tech said in a bourse filing that discussions are ongoing and the company has not made any decision or entered into any definitive agreements for the possible subscription.

It said there is no certainty or assurance that these discussions will progress beyond the current stage. It added that it will release a further announcement if there are any material developments which warrant disclosure according to obligations under listing rules.

Grand Venture on Monday night requested to lift a trading halt it called in the afternoon. The counter was trading 8.6 per cent or S$0.03 higher at S$0.38 as at 9.04am on Tuesday.