Straits Construction to stage reverse takeover of mainboard-listed Transcu
Construction firm Straits Construction has inked a deal to stage a reverse takeover of struggling mainboard-listed biotech firm Transcu Group, Transcu said in a statement on Wednesday.
It declined to reveal the value of the deal.
Straits Construction raked in revenue of $413.3 million and net profit of around $49.5 million for 2012, according to the latest available data from the Accounting and Corporate Regulatory Authority.
Transcu said that the deal would give it a "new lease of life via an entity with a proven track record, in an industry with potential for growth".