Enviro-Hub (SGX:L23) entered into a non-binding letter of intent with a potential purchaser to sell its wholly owned subsidiaries, HLS Environmental and HLS Property, according to a Thursday filing with the Singapore Exchange.
Under the LOI, the purchaser has gained an approval from its board to pay a deposit of refundable SG$500,000 to the company.
The enterprise value for both subsidiaries is between SG$45 million and SG$55 million, while the consideration payable is between SG$46.5 million to SG$56.5 million.
The potential buyer deals with non-ferrous products and is headquartered in the Asia-Pacific region.
Shares of the company were up over 4% in recent trading.
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