a) they are issuing new shares to Temasek in order to buy over some Bioforest project for S$7 m.
The issue price is only around 13 cents (while the current stk price is 19.5 cents). Still, it's interestng that Temasek is taking the new shares (instead of cash).
b) Samko has high need for more working capital, and is looking to raise funds. So more share dilution coming.
Instead of S-chip play, now it's I-chip? LOL. Indonesian timber play now at 25 cents.
Look at the massive vol of 39 million by 11 am. No smoke w/o fire. What's the fire? Who knows? Or have to wait for SGX to query company.
Sampoerna family accumulating stock, look at this evening's announcement.
Positive signal.
Last month, Temasek willing to take up new shares worth S$7.3 m in exchange for a biotech company. Positive !