MARKET DEVELOPMENT
Equatorial Palm Oil Jumps As It Confirms Funding Talks, Potential Offer
Equatorial Palm Oil Jumps As It Confirms Funding Talks, Potential Offer
16/10/2013 (Alliance News) - Equatorial Palm Oil PLC Wednesday said it is in talks with Kuala Lumpur Kepong Berhad about funding its Liberian Palm Developments joint venture, and those talks could also lead to an offer for all or part of the parent company.
It cautioned that the talks are in early stages and may not result in an offer of funding for the joint venture or an offer for all or part of Equatorial Palm Oil.
The company said it was responding to a recent rise in its share price. The stock is up 23.1% at 6 pence early Wednesday, one of the biggest rises on AIM, but has been rising since the start of the week when it opened at just over 3 pence.
It cautioned that the talks are in early stages and may not result in an offer of funding for the joint venture or an offer for all or part of Equatorial Palm Oil.
The company said it was responding to a recent rise in its share price. The stock is up 23.1% at 6 pence early Wednesday, one of the biggest rises on AIM, but has been rising since the start of the week when it opened at just over 3 pence.