SINGAPORE - Singapore Exchange has suspended the trading of Blumont Group Ltd shares after the company said it plans to take over a foreign-listed coal mining company, sending its shares plunging by more than 50 per cent.
"This is to safeguard the interests of the market as there could be circumstances that would result in the market not being fully informed," a stock exchange filing said.
Blumont said before market hours on Friday that it had reached an agreement on the terms of a proposed takeover bid of a coal mining company for up to S$146 million ($117 million).
