C&G Environmental Protection shares surge 25% on S$400-million reverse takeover offer

C&G Environmental Protection shares surge 25% on S$400-million reverse takeover offer

Ibtimes·2017-12-29 20:47

Electric services company C&G Environmental Protection Holdings said it entered into a deal with India's Param Mitra Coal Resources for a S$400 million reverse takeover.

Shares in C&G Environmental Protection jumped as much as 25 percent to S$0.015 on the Singapore Exchange following the takeover news. The company develops and operates waste to energy plants in China and has environmental preservation projects like Municipal Solid Waste (MSW) and sewage treatment.

Singapore-registered Param Mitra is backed by Sindhu family, which owns India-based Sainik-Aryan Group. Param Mitra is primarily focused on mining and trading of thermal coals sourced from various coal mines in Indonesia.

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