Joyas to issue warrants, convertibles to fund move into nickel trading
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Singapore
JOYAS International Holdings is expanding into nickel trading, with plans to buy a 70 per cent stake in a Hong Kong outfit for HK$700,000 (S$118,000) in cash. The metal gifts and jewellery maker will also issue up to S$3.5 million of warrants and up to S$5.3 million of convertible bonds to help fund its diversification plans.
"These new business activities present niche markets which will provide suitable investment opportunities for the group," Joyas managing director Peter Lau Chor Beng said in a statement. "This is because the global demand and consumption of nickel is expected to outpace supply in the long term."
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