JOHANNESBURG, Oct 15 (Reuters) - South African engineering firm Invicta Holdings IVTJ.J said on Monday it planned to buy Singapore's Kian Ann Engineering KIAN.SI for about $160 million in a cash and share deal, giving it a platform in Asia.
Invicta said in a statement it will offer to buy the distributor of heavy equipment parts and diesel engine spares for S$0.44 a share.
Some of the Singapore firm's management will also swap their stakes in Kian Ann for shares in Invicta, the South African company said.
The total value is around 1.36 billion rand ($160 million), Invicta said, adding the deal is likely to boost revenue by 20 percent.
It said it could use Kian Ann as a platform for further expansion in Asia.
Acquisitions of Asian firms by African ones remain relatively rare. Most deals between the regions usually involve an Asian firm buying a presence in Africa.
Standard Chartered STAN.L said it was the financial adviser on the deal.
Shares of Invicta were up 0.4 percent at 78.10 rand in Johannesburg at 0822 GMT. ($1 = 8.6259 South African rand)
Kian Ann recently made a new high at 40 cents , n pulled after that . It pulled back three days to form a small flag formation , n broke out of this formation on the fourth day with increasing volume . It may go to 45 cents if the measuring is correct .
chtan5751 ( Date: 20-Sep-2012 12:08) Posted:
Hi , bought 100 lots at 0.38 on 17-9-12, , wanted to sell 100 lots at 0.39 yesterday , but only 62 lots done..Dividend $0.82 will paid on 31-10-12 no best...still can buy if a price below 0.38. cheers...
Sorry , l had not mentioned other purchases. l bought total 409 lots since 17-9-12 from price 0.36 to 0.38. and sold it from $0.38 to $0.41. l must thank bro Bintang gave me some advice so that l could continue to buy more shares. Bro ysh, showed below part of my trading records for u viewing, Thks
Hi sold all yesterday n made profit more than $29k for this counter. . if a price below $0.38 , l 'll consider to buy it again. cheers..
chtan5751 ( Date: 20-Sep-2012 12:08) Posted:
Hi , bought 100 lots at 0.38 on 17-9-12, , wanted to sell 100 lots at 0.39 yesterday , but only 62 lots done..Dividend $0.82 will paid on 31-10-12 no best...still can buy if a price below 0.38. cheers...
Hi Bintang,
Do you see any chance for Marco Polo to move up as well I know this was a quiet counter.
Thanks
Bintang ( Date: 12-Oct-2012 16:11) Posted:
Strong support is at 40 cents now .
Bintang ( Date: 03-Oct-2012 19:57) Posted:
In fact , Kian Ann never go up much after the three days pull -back . After hitting 39.5 cents with lesser volume , it came down again . This time it pulled back more lower to 36 cents , fortunately it was supported by the runaway gap created previously at 35 cents .It went up today with healthy volume to 38.5 cents . Even with those heavy corrections recently , its indicators still stay at positive position , that means its uptrend is still intact . If it could beat the strong resistance at 40 cents in the next few days , it may to test new high
In fact , Kian Ann never go up much after the three days pull -back . After hitting 39.5 cents with lesser volume , it came down again . This time it pulled back more lower to 36 cents , fortunately it was supported by the runaway gap created previously at 35 cents .It went up today with healthy volume to 38.5 cents . Even with those heavy corrections recently , its indicators still stay at positive position , that means its uptrend is still intact . If it could beat the strong resistance at 40 cents in the next few days , it may to test new high .
Bintang ( Date: 20-Sep-2012 12:25) Posted:
Kian Ann recently made a new high at 40 cents , n pulled after that . It pulled back three days to form a small flag formation , n broke out of this formation on the fourth day with increasing volume . It may go to 45 cents if the measuring is correct
In fact , Kian Ann never go up much after the three days pull -back . After hitting 39.5 cents with lesser volume , it came down again . This time it pulled back more lower to 36 cents , fortunately it was supported by the runaway gap created previously at 35 cents .It went up today with healthy volume to 38.5 cents . Even with those heavy corrections recently , its indicators still stay at positive position , that means its uptrend is still intact . If it could beat the strong resistance at 40 cents in the next few days , it may to test new high .
Bintang ( Date: 20-Sep-2012 12:25) Posted:
Kian Ann recently made a new high at 40 cents , n pulled after that . It pulled back three days to form a small flag formation , n broke out of this formation on the fourth day with increasing volume . It may go to 45 cents if the measuring is correct
In fact , Kian Ann never go up much after the three days pull -back . After hitting 39.5 cents with lesser volume , it came down again . This time it pulled back more lower to 36 cents , fortunately it was supported by the runaway gap created previously at 35 cents .It went up today with healthy volume to 38.5 cents . Even with those heavy corrections recently , its indicators still stay at positive position , that means its uptrend is still intact . If it could beat the strong resistance at 40 cents in the next few days , it may to test new high .
Bintang ( Date: 20-Sep-2012 12:25) Posted:
Kian Ann recently made a new high at 40 cents , n pulled after that . It pulled back three days to form a small flag formation , n broke out of this formation on the fourth day with increasing volume . It may go to 45 cents if the measuring is correct .
chtan5751 ( Date: 20-Sep-2012 12:08) Posted:
Hi , bought 100 lots at 0.38 on 17-9-12, , wanted to sell 100 lots at 0.39 yesterday , but only 62 lots done..Dividend $0.82 will paid on 31-10-12 no best...still can buy if a price below 0.38. cheers...
Kian Ann recently made a new high at 40 cents , n pulled after that . It pulled back three days to form a small flag formation , n broke out of this formation on the fourth day with increasing volume . It may go to 45 cents if the measuring is correct .
chtan5751 ( Date: 20-Sep-2012 12:08) Posted:
Hi , bought 100 lots at 0.38 on 17-9-12, , wanted to sell 100 lots at 0.39 yesterday , but only 62 lots done..Dividend $0.82 will paid on 31-10-12 no best...still can buy if a price below 0.38. cheers...
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