QT Vascular shares jump 112% as investors react to RTO news
Add BT as a preferred source
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.
TRENDING NOW
NDR 2026: Singapore to create new Western island to support 'new generation of industries'
MSCI drops S-E Asian heavyweights Sembcorp, GoTo and Ayala Land from global benchmarks
E-commerce is killing ‘real’ commerce, says China’s beverage king Zhong Shanshan
Asia-Pacific aviation: is up really the only way?
