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
