QT Vascular shares jump 112% as investors react to RTO news
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SHARES of medtech firm QT Vascular (QTV) surged 112.5 per cent or 0.9 Singapore cent to close at 1.7 Singapore cents on Tuesday after the company announced plans to acquire a Mongolian mining and energy company called Tengri Coal and Energy (TCE) for S$1 billion in cash and new shares.
If completed, the transaction is expected to result in a reverse takeover (RTO) of QTV. QTV's board of directors expected the deal to give the company "a new lease of life" and could potentially increase its market capitalisation.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
