Sumitomo Rubber Industries (SRI) has outlined plans to buy a 1.8% stake in Singapore-based tyre and wheel distributor Stamford Tyres Corporation.
To cement the deal, Stamford Tyres is to issue to Sumitomo 4.3 million new ordinary shares at S$0.35 (US$0.26), with the net proceeds of around S$1.4m being used
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