Mencast in talks for asset divestment

OFFSHORE services provider Mencast said after Thursday's trading close that it is in early stage exploratory discussions with unnamed parties over the divestment of its assets.

The statement was issued in response to a query from the Singapore Exchange about a surge in the company's share price before the counter went into a trading halt Thursday noon.

Mencast clarified that no definitive agreement or contract has been signed for the said assets divestment.

The company requested for the trading halt to be lifted after responding to SGX.

Shares in Mencast traded at S$0.193, up 2.9 cents or 17.7 per cent, before the trading halt.