Corporate News - Sky China, BBR Holdings
Posted On Tuesday, January 29, 2008 at at 5:20 PM by Finance AnalysisChina Sky
Shares of China Sky Chemical Fibre rose as much as 9.6 percent to S$1.48 with 1 million shares traded after the nylon fibre manufacturer said it has agreed to acquire Qingdao ZhongDa Chemical Fibre for RMB450 million.
The Singapore-listed Chinese firm will pay 60 percent of the amount in cash, and the remaining 40 percent through the issue of 21 million new ordinary shares for between S$1.70 and $2.00 per share.
BBR Holdings
Shares of BBR Holdings rose as much as 14.3 percent to S$0.08 with 2.4 million shares traded after the firm said it secured a S$95.3 million contract to build an office complex.
The two 12-storey tower blocks in western Singapore are expected to be completed by August 2009, the firm said in a statement on Monday.
Source: Reuters
