Amara shares closed 5 cents higher, or 12.8% higher, at 44 cents on June 16 before the trading stoppage

Amara Holdings, on June 18th announced that an offer to purchase Amara Holdings shares could be offered.

On the 17th of June members of the Board received formal announcement from Amara’s executive director Albert Teo Hock-Chuan and Susan Teo Geok Tin, to inform them that they and several of their relatives are currently in private discussions with an outside person. These discussions relate to a possible deal that could result in an offer to purchase the company’s shares. Albert Teo is also Amara’s CEO. Susan Teo is the company secretary.

TMW Maxwell price is zoned for commercial use under URA’s master plan, the developers intend to seek approval to redevelop a mixed-use development.

The company’s announcement follows the “unusual price fluctuations” in the price of its shares. The company’s shares also experienced an “unusual amount of trading” between June 15 and 16.

A stop to trading was requested from the firm on June 16, after its shares jumped to 44.3 cents that the day. This was 13.6% higher than the closing price of 39 cents on June 15.

The shares on June 15 also rose 9.9% higher than the closing price of 35.5 cents on June 14.

“Save as stated above, the company isn’t in possession of information that has not been previously released about the business or its subsidiaries that could be the reason for the unusual price fluctuations as well as the more than usual volume of trading its shares between July 15 and 16” Amara adds. Amara.

Amara shares Amara ended at 5 cents, which is 12.8% up at 44 cents on June 16, before the trading stopped. The suspension was taken off on 18 June.