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An announcement from Ellipsiz Ltd ( (SG:BIX) ) is now available.
Ellipsiz Ltd has announced a non-binding Memorandum of Understanding (MOU) involving its subsidiary, ISE Foods Holdings Pte. Ltd. (IFH), and Unicore Resources Pte. Ltd., along with individual investors, to subscribe for new shares in IFH. This agreement aims to leverage the expertise of the investors in commodities trading and egg farming to develop a fourth egg farm, with the investment providing the necessary funding. The subscription will result in a new distribution of shares, with Newco holding a significant portion of the enlarged share capital. The MOU outlines the initial intentions and terms for further negotiations, contingent on approvals from existing shareholders and the Singapore Food Agency.
More about Ellipsiz Ltd
YTD Price Performance: -3.75%
Average Trading Volume: 51,863
Technical Sentiment Consensus Rating: Buy
Current Market Cap: S$25.83M
For an in-depth examination of BIX stock, go to TipRanks’ Stock Analysis page.