Investment and telecommunications services firm Innopac Holdings Ltd has moved into China’s natural gas market, after a false start in 2011.
It announced that it had entered into a conditional sale and purchase agreement on Friday with Rubic Prize for the acquisition of 45 million ordinary shares of Extera - representing 81.82 percent of the investment holding company’s issued and paid-up share capital - for S$17.1 million ($13.6 million).
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$1 = 1.2536 Singapore dollars Compiled by Anshuman Daga; Editing by Sunil Nair