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Albedo says reverse takeover deal still on as shares ended lower

Published on Apr 10, 2014 8:50 PM

SINGAPORE - Shares of steel trader Albedo fell today despite assurances from the company that a proposed reverse takeover (RTO) deal that it's involved in is still on the table.

Albedo's shares ended at 2.7 cents, down 0.4 cent.

It said on Thursday that it is working on sorting out the issues with the vendor Infinite Rewards, which is controlled by Malaysian businessman Danny Tan.

Albedo said representatives from both sides met last Thursday to discuss outstanding matters, adding that discussions are still ongoing.

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