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Tuesday, November 27, 2018 – 08:15
Hi-P International, a Controlling shareholder of the contract builder, is considering entering into an agreement that could lead to a game for the remainder of the title, the company said early Tuesday in response to a Singapore Stock Exchange transaction request.
"After the unusual trading of shares" Monday, "the company understands that a majority shareholder of the company is considering a possible transaction involving the shares of the company, which may or may not result in a transaction for the shares of the company. company, "Hi-P said.
"However, to date, no party has made contact with the company regarding a transaction involving the company's stock."
Hi-P on Monday launched a request for negotiation from the market regulator, while its shares have increased sharply. The wicket closed at 1.06 Singaporean dollar on Monday, up 30.9%, or 25 cents Singapore after 19.5 million shares traded.
Hi-P President and CEO Yao Hsiao Tung is the majority shareholder of the company. Its direct and deemed participation was 84.2% as at June 20, 2018. However, the company had put in place a share buyback program that could have changed its percentage of ownership since its last disclosure.
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