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New substantial shareholder acquires 6.9% stake in Ausgroup

Published on Apr 4, 2014 10:06 AM

SINGAPORE - Singapore-listed marine and offshore services firm Ausgroup said on Friday it has been informed that a party has acquired a substantial shareholding of about 6.9 per cent in the company.

Substantial shareholdings are generally defined as a stake of 5 per cent or more in a company.

Ausgroup is "in the process of verifying such information", it said in a filing to the Singapore Exchange (SGX). The filing was in response to a query from the bourse regarding unusual price movements in Ausgroup.

The party, which Ausgroup did not name, has also suggested exploring strategic collaboration opportunities with Ausgroup, the company said.

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