Singpost Jumps 2.8%; Singpost's Subsidiary to Become Sole Shareholder in Quantum Solutions International
Singapore Post's (SGX:S08) subsidiary, SingPost Logistics Enterprise, entered into a deed of undertaking with Alibaba Investment (AIL), a subsidiary of Alibaba Group (HKG:9988), to cease its shareholding in Quantum Solutions International (QSI), according to a Wednesday filing with the Singapore Exchange.
The cessation of JV will end the company's joint venture with Alibaba Group in QSI, which will be executed through a selective capital reduction exercise.
Following the completion of the exercise, QSI will become a wholly owned subsidiary of the company, while the consideration payable to AIL will be SG$36.9 million.
Singpost jumps 2.8% at 2:27 pm, Apr 17th.
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.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10