Sinomem Technology jumps 26% on takeover bid

Shares of Singapore-listed Chinese wastewater treatment firm Sinomem Technology (SINO.SI) jumped as much as 26% on Monday to a 17-month high after it said it had received a takeover bid worth from a private equity firm which has offered to buy over the company for a total of $351.2 million , or at $0.70 a share.

At 9:03 a.m., Sinomem shares were up 26% at $0.685 with over 1.6 million shares changing hands.