SINGAPORE (Apr 25): Shares of Techcomp (Holdings) surged as much as 78% to 66 cents on Wednesday, after the laboratory equipment manufacturer announced a proposed group reorganisation which would see it split into two parts.

This comes after Baodi International Investment Company, a firm linked to the government of China’s Yunnan province, last week agreed to buy over some 61.6% of the SGX Mainboard-listed Techcomp.

The reorganisation will see Techcomp break up into a “Remaining Group”, which will be controlled by Baodi, and a “Privateco Group”, which will be majority controlled by Techcomp president and executive director Lo Yat Keung.

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