Infinio Group Ltd. said it will buy Ephraim Resources Ltd. for S$381.8 million ($302.6 million) by issuing new shares. The transaction will give Ephraim’s shareholders 93.1 percent of Infinio, making the deal a reverse takeover.
WHAT TO WATCH:
*Infinio Group Ltd. to buy Ephraim Resources Ltd. for S$381.8m. The reverse takeover gives Ephraim’s shareholders 93.1 percent of Infinio. *Saizen REIT sold Global Matsukawa Building in Hiroshima, Japan, for S$3.1m. *Sembcorp Marine Ltd.’s Sembawang Shipyard signed a long-term ship-repair alliance contract with Teekay Marine Services. *Sinopipe Holdings Ltd. unit increased its investment in Atontech (Singapore) Pte by S$3.9m. *Shanghai Asia Holdings Ltd. CFO Tung Kum Hon has resigned, effective Sept. 10.
S&P 500 up 0.7% to 1,328.26 Stoxx Europe 600 up 0.7% to 278.55 MSCI Asia Pacific up 1.3% to 134.84 Straits Times Index up 1.3% to 3,095.32
*10am: Feb. money supply, Jan. M1 was up 21.3% y/y *10am: Feb. bank lending, Jan. was +16.1% y/y
*7:40 a.m.: Columbia University Professor Robert Mundell *8:10 a.m.: CCB Global Head Financial Strategy Paul Schulte *8:20 a.m.: iProspect Managing Director Antony Yiu *8:30 a.m.: Bank of Korea Governor Kim Choong Soo *8:40 a.m.: BarCap Head of Emerging Asia Peter Redward *9:10 a.m.: UBS Chief Investment Strategist Pu Yonghao *9:40 a.m.: Deloitte China Senior Advisor Ken DeWoskin *10:10 a.m.: Citigroup Head of FX Patrick Perret-Green