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Broadway Industrial points to ongoing M&A discussions, says 'not aware' of any other reason that could explain share price surge

Uma Devi
Uma Devi12/18/2019 12:53 PM GMT+08  • 2 min read
Broadway Industrial points to ongoing M&A discussions, says 'not aware' of any other reason that could explain share price surge
SINGAPORE (Dec 17): In response to a query by Singapore Exchange Regulation (SGX RegCo) after its share price rocketed 48.4% on Tuesday, Broadway Industrial Group says it is not aware of any information not previously announced that could explain the unus
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SINGAPORE (Dec 18): In response to a query by Singapore Exchange Regulation (SGX RegCo) after its share price rocketed 48.4% on Tuesday, Broadway Industrial Group says it is not aware of any information not previously announced that could explain the unusual price movements.

However, the group pointed out that it had earlier announced a strategic review to diversify and expand its existing business as well as unlock shareholders’ value.

On Nov 28, the group had revealed that, as part of the ongoing strategic review, it is engaged in discussions with two prospects on possible merger and acquisition transactions.

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