Time to relook at Procurri

9m shares married deal at $0.425 today. Something is brewing

Declout, the biggest shareholder of Procurri, has increased stake together to 25%

links.sgx.com/1.0.0/corporate-announceme...7fa5024e7c3dd50656ce

Novo Tellus might possibly be the buyer of the "certain business asset" of Procurri for a spin off listing via the SPAC they raised recently.

Mandatory Conditional Offer

links.sgx.com/FileOpen/Offer_Announcemen...cement&FileID=717977

As expected, a takeover bid has been offered. However I note that 11m shares were scooped up after the announcement was made. My guess is Novo Tellus acquired these shares to become the biggest shareholder and will counter offer a higher bid.

0.425 is way too cheap and low