Hu An Cable (KI3.SG) +2.4% at $0.430, rising after company, in exchange filing, says Singapore-based private equity firm SEAVI Advent has approached non-executive board member, substantial shareholder Yeung Wai Wing to buy about 5.0% of Hu An's issued shares that Yeung already owns, reports Dow Jones.

Hu An says terms of sale under negotiation, no assurance that sale will be concluded. Given that 5.0% stake SEAVI interested in is long way off 30% threshold for mandatory offer, news unlikely to excite takeover target hopes, especially as comes on same day Hu An says it's seeking up to NT$1.66 billion (US$54 million) by issuing Taiwan Depositary Receipts, to list in Taipei October 28.

But SEAVI's interest likely to boost sentiment on stock of China-based wire, cable maker for grid, coal, ship-building industries, as SEAVI has track record of lucrative investments in solid companies such as Yangzijiang (BS6.SG), Venture Corp (VO3.SG). Order book suggests $0.440 may be difficult to overcome.