Techcomp rises 62% on split; shareholders to get 2 cash offers

Singapore

SCIENTIFIC equipment supplier Techcomp (Holdings) Ltd announced on Wednesday that it will undergo a reorganisation, following agreements to sell 61.6 per cent of the company's shares to Baodi International Investment Company, which is ultimately owned by China's state-owned Assets Supervision and Administration Commission of the Yunnan Provincial People's Government.

On its first day of trading since asking for a halt on April 19, 2018, the company's counter reached an intra-day high of S$0.66 right before the lunch break, before falling back to close on Wednesday at S$0.60, 23 Singapore cents or 62 per cent higher.