China Minzhong Food, Novo, Asiatravel.com, Karin Tech, Sunpower

SINGAPORE (Sept 7): Here are some stocks that could move the market this Wednesday morning:

China Minzhong Food Corporation (CMFC) has received an joint offer on behalf its largest shareholder and CEO to acquire the vegetable processing company with the intention of privatising and delisting the company. Marvellous Glory Holdings, a special purpose vehicle for the offer, is acquiring all the shares it does not own for $1.20 in cash each or 76.65 cents plus 43.35 cents in principal amount of zero coupon mandatorily exchangeable bonds to be issued by the offeror. With 655.4 million shares outstanding, the offer values CMFC at $786 million. The $1.20 cash offer is 25% higher than CMFC's Tuesday closing price of 96 cents.

Steel trader and tin plate manufacturer Novo Group on Tuesday received a demand letter from China CITIC Bank International to Novowell ETP, a 95%-owned indirect subsidiary of the group, for the repayment of about US$14.3 million ($19.3 million) by Sept 12. Notice was also given by the bank that should Novowell ETP fail to make repayment by the deadline next Monday, it “may take further legal actions as it deems necessary to safeguard its interests”. Shares of Novo last traded at 50 cents on Aug 26.

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