UMS raises stake in JEP to 29.5%
Cash acquisition is part of its plan to diversify its revenue and income base beyond the semiconductor industry into high-growth sectors, particularly the aerospace industry
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Singapore
PRECISION engineering company UMS Holdings has upped its interest in JEP Holdings by another 22 percentage points - adding to an earlier 7.48 per cent stake that it bought on Tuesday for S$5.7 million.
Of the latest round of investment, UMS acquired 21.96 per cent or 320 million JEP shares through a married deal, and bought 0.06 per cent or 864,300 JEP shares in the open market, it told Singapore Exchange in a filing on Wednesday.
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