Shares of Singapore stock broker Kim Eng (KEHS.SI) rose as much as 4.5% in early trade on Monday after it said it has been approached by “potential interested parties” for a stake purchase in the firm.

At 9:36 a.m., Kim Eng shares were trading at $2.34 on a volume of 810,000 shares.

“The company has received approaches from potential interested parties in relation to a possible acquisition of shares in the capital of the company,” Kim Eng said in a statement on Friday evening.

The firm did not name the potential buyers, but traders said Mitsubishi UFJ Securities is a strong contender.