Continental Steel to Invest 4.34% Stake in Tiong Seng

MT Newswires

2024/12/31

Continental Steel (CSPL) proposed a strategic investment in Tiong Seng (SGX:BFI) by investing a 4.34% stake in the company's capital at SG$0.10 per share, according to a filing with the Singapore Exchange on Monday.

The company will issue around 20 million shares to CSPL which is a long-term partner of the company's wholly owned subsidiary, Tiong Seng Contractors.

The two have collaborated on various projects in the fast and the latest proposed subscription will help enhance their respective capabilities.

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