VibroPower (SGX:BJD) has granted an option to purchase its Tuas Avenue 16 industrial property to Ecorecycling for SG$3.9 million, according to a Friday filing with the Singapore Exchange.
Shares of the electric services company surged over 27% in Monday trading.
The disposal of the 3,500 square meters industrial property exceeds the company's entire market capitalization of nearly SG$3 million.
Meanwhile, proceeds from the disposal will be used for working capital and debt repayment. The additional working capital is expected to support the execution of its SG$35 million order book.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments