Vitasoy International (0345) is "open" to potential business collaboration opportunities, chief executive Roberto Guidetti said, as the beverage maker's shares jumped the most on record after a Singapore tycoon further raised his stake in the firm.
"The fact that there is interest in the company is a good thing. Recognition that there is potential in the company going forward is a good thing."
Ng raised the holding via vehicles including Yeo Hiap Seng, one of Singapore's largest beverage companies and part of the Ng family's business group Far East Organization.
Vitasoy's shares surged as much as 32 percent in Hong Kong yesterday, the most since its listing in 1994, before closing 15.5 percent higher at HK$11.64.The stock has climbed nearly 80 percent since Ng's started increasing his stake from October 7, which was 4.94 percent at the time.
Vitasoy chairman Winston Lo declined to comment on Ng's move at an earnings briefing Tuesday and said he had no idea what Ng plans to do. Ng hasn't publicly made any comment on his stake increase. Vitasoy's profit rose 5 percent to HK$171 million for the six months ended September. It announced an interim dividend of HK$4 cents per share, compared with HK$1.4 cents a year before.
