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Monday, October 25, 2021

Halcyon Agri in talks to buy Lee Rubber’s Indonesia plants for S$400-500 mln

Singapore-based rubber firm Halcyon Agri Corp Ltd is in talks to buy rubber processing plants in Indonesia from privately held Lee Rubber for S$400 million to S$500 million ($320 million to $400 million), three people familiar with the matter said on Wednesday.

The talks would come as the rubber processor and trader requested a halt in the trading of its shares on Wednesday pending the release of an announcement.

Prior to the suspension, Halcyon shares rose as much as 7.7 percent to a one-year high of S$0.975 early on Wednesday, valuing the company at S$386.1 million. (Reporting by Rujun Shen, Lewa Pardomuan and Saeed Azhar; Editing by Christopher Cushing)

– Reuters

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