Shares in Nutryfarm International fall after trading halt lifted, announcement of acquisition
Company taking 45% stake in First Linkage to help diversify income streams
Singapore
SHARES in Nutryfarm International fell 3.5 Singapore cents to close at 27.5 cents on Friday after the company lifted its trading halt and announced that its subsidiary was acquiring a 45 per cent stake in First Linkage.
The company halted trading in its stock on Thursday afternoon after its share price jumped by nearly 35 per cent to 31 Singapore cents, prompting a query from the Singapore Exchange (SGX). It resumed trading on Friday morning.
In response to SGX's query, Nutryfarm said in a filing on Thursday night that the share price rally came as it was finalising the terms of the deal, which involved its indirectly wholly owned subsidiary, LottVision Internet Management.
In a separate filing on Thursday night, Nutryfarm said that the acquisition was part of efforts to seek potential business opportunities linked to the group's existing areas of business, one of which is an Internet management business, so as to help diversify income streams. Its core business is in nutrition and health foo…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Syngenta to withdraw China IPO application on weak market: sources
Chinese firms’ fundraisings in limbo as IPOs scrutinised at home and abroad
China’s Huawei continues rebound with strongest earnings growth since 2019
Hatten Land gets notice of default, letter of demand for RM14 million, appoints financial adviser
ComfortDelGro wins contracts to run buses in Manchester
Sam Bankman-Fried, at sentencing, acknowledges FTX customers have suffered