Shanaya's Unit to Acquire 60% Stake in Hup Lee Leong Enviro; Shares Surge 15%

MT Newswires

01/15

Shanaya's (SGX:SES) subsidiary, Shanaya Environmental Services, entered into a binding term sheet with multiple individuals to acquire a 60% stake in Hup Lee Leong Enviro, according to a Wednesday filing with the Singapore Exchange.

Shares of the waste management company surged 15% in late Thursday trading.

The total consideration agreed between the parties is SG$1.8 million, with part of the consideration to be paid through the issuance of around 27.3 million shares in the company at SG$0.045 per share.

The proposed acquisition is a strategic move that allows the company to pursue its expansion goals.

Based in Singapore, Hup Lee Leong Enviro is a National Environmental Agency licensed General Waste Collector. It is in the business of collection of waste with general cleaning services.

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It is in the business of collection of waste with general cleaning services.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SES.SI","symbol_name":"Shanaya","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2603672673","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2603672673","pubTimestamp":1768464217,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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