Nanofilm Technologies International (SGX:MZH) has agreed to sell its coating equipment to its subsidiary, Sydrogen Energy, for nearly SG$5.5 million, according to a filing with the Singapore Exchange on Friday.
The sale price will be satisfied either in cash or through issuance of new shares in Syndrogen.
The acquisition of the equipment is part of Sydrogen's strategy to expand its R&D and production capabilities.
Shares of the company fell nearly 14% in recent trading.
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