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Stocks to watch: OSIM, SingPost, IEV
THE following listed companies made material announcements before the Singapore market opened on Monday:
OSIM International: The chairman and chief executive officer of healthy lifestyle products provider OSIM International has made a voluntary unconditional cash offer of S$1.32 per share to take the company private. Ron Sim Chye Hock made the offer through his private investment vehicle, Vision Three Pte Ltd. Mr Sim owns 506.55 million shares in OSIM, representing a 68.31 per cent stake as at March 7.
Singapore Post (SingPost): SingPost said the merger between SP JP Acquisition Corp and US-based eCommerce logistics platform provider Jagged Peak has been completed. SingPost will own 71.1 per cent in Jagged Peak through SP JP. The remaining 28.9 per cent interest will be held by Paul Demirdjian and Primrose Demirdjian.
IEV Holdings: The Vietnamese wholly owned subsidiary of IEV Holdings has inaugurated the MK-1 Biomass Plant in Can Tho province. The plant has storage capacity for up to 10,000 tonnes of rice husk and is capable of producing up to 150 tonnes of rice husk briquettes per day. The briquettes are now sold domestically as a low-cost and renewable energy source for factories in Vietnam.