Company Briefs
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Toshiba
Toshiba rose yesterday after the Nikkei reported that the company is weighing a plan to take itself private.
The Japanese conglomerate is in talks with financial institutions on a buyout plan that would be led by domestic investors, the paper said.
Shares were up as much as 3.9 per cent in morning trading in Tokyo. The news came after Toshiba shareholders rejected a plan by management to split the 146-year-old conglomerate into two while also voting down a proposal by an activist investor to reconsider other options, including a sale.
BLOOMBERG
Meituan
Chinese delivery giant Meituan plunged as much as 9.8 per cent yesterday, ahead of fourth-quarter results that may show revenue growth cooled to the slowest in more than a year.
Other Chinese tech stocks also slumped amid continued concern about the sector's earnings and the risk of local firms being kicked off American exchanges. The Hang Seng Tech Index slid more than 5 per cent in afternoon trading. Yesterday's trading shows that the rally fuelled by easing regulator scrutiny and a more supportive policy stance is starting to lose steam.
BLOOMBERG
Tritech
Water and environment company Tritech Group yesterday said it agreed to place out up to 742.2 million new ordinary shares worth $33.8 million, in cash, to several new strategic investors.
The first tranche of 166.7 million placement shares will be placed out via the company's general share issue mandate to Qatar-based Protocol Capital and introducers Jackie Ng, Stephanie Tan and Roads Holding. The issue price of 3 cents is a 66.7 per cent premium to its volume-weighted average price of shares traded on the company's last full market day of March 21.
THE BUSINESS TIMES
