Singapore’s Big Loser of the Week: Ellipsiz Ltd

Shares of Ellipsiz Ltd (SGX: BIX) plunged 11.5% for the week, closing at S$0.73 on Friday. In comparison, the Straits Times Index (SGX: ^STI), inched down by only 0.7% during the same time frame. This makes Ellipsiz Ltd one of the biggest losers in the Singapore share market for the week.

Headquartered in Singapore, the firm is a distribution and service solutions provider that serves the semiconductor and electronics manufacturing industries. Its customers include semiconductor foundries and electronics manufacturer in the Asia-Pacific region. It has two main business segments, which is, probe card solutions, and distribution and services solution.

On Thursday this week, it announced that its controlling shareholder, Bevrian Pte Ltd, is no longer in discussions with a third-party regarding a possible transaction involving the shares of Ellipsiz.

This came after Ellipsiz said last month that Bevrian had been approached by an unidentified third-party to explore a possible transaction involving Ellipsiz, “which may or may not lead to an offer being made” for the firm.

It added that the “discussions are at a preliminary stage and no definitive agreement has been entered into by the parties, and there is no certainty that any transaction will materialise”. As of 18 September 2017, Bevrian had a 59.53% stake in Ellipsiz.

Despite the sharp fall this week, Ellipsiz’s shares have gone up slightly more than 100% year-to-date.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.