Asia
Miyoshi Signs Letter of Intent to Sell Stake in Core Power (Fujian); Shares Jump 13%
Miyoshi's (SGX:M03) shares surged nearly 13% on Wednesday after the manufacturer of precision pressed parts signed a non-binding letter of intent with Core Power (Fujian) Technology to dispose of its 42.11% stake in Core Power (Fujian).Under the letter, the company will dispose of the shares for an indicative consideration of 6 million yuan, according to a Tuesday filing with the Singapore Exchange.The completion of the disposal is subject to the execution of a definitive term sheet and shareholders' approval.
SGX:M03
