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IEV Holdings in talks to diversify into healthcare business
CATALIST-listed IEV Holdings is currently in talks with "certain unrelated third parties" for a transaction that may result in a diversification into the healthcare and wellness business, the oil and gas engineering solutions company said in a holding announcement on Tuesday.
The discussions are ongoing, and no definitive terms have been agreed upon between the parties, IEV noted.
Among other things, the deal is subject to due diligence and valuation, as well as approvals from the relevant authorities and shareholders.
The company added that there is no certainty or assurance that a transaction will arise from these discussions, and that it will make appropriate announcements when there are material developments on this matter.
As at 2.35pm on Tuesday, IEV shares were trading at 1.8 Singapore cents, down 25 per cent, or 0.6 cent.