Accrelist (SGX:QZG) said it is in preliminary talks for the disposal of its shareholding in its subsidiary, Jubilee Industries, according to a Monday filing to the Singapore stock exchange.

The company's shares were up nearly 2% in recent trading.

The aesthetics company also said it continues to be in discussions on the definitive agreements for an acquisition and licensing deal with Zhou Zan, following a non-binding term sheet signed in June.

Under the term sheet, the company agreed to acquire a 51% interest in a new target company to be incorporated in China.