(Bloomberg) -- Vitasoy International Holdings Ltd. is “open” to potential business collaboration opportunities, Chief Executive Officer Roberto Guidetti said, as the beverage maker’s shares jumped the most on record after a Singapore tycoon raised his stake in the firm.
“We are not initiating or pro-actively seeking collaboration opportunities, but of course, always open to evaluate collaboration opportunities that exist,” Guidetti said Wednesday in an interview with Bloomberg TV. “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.”
Guidetti’s comment came after Singapore billionaire Philip Ng upped his stake in Vitasoy to 12.26% from 11.87%, raising speculation over potential takeover efforts. Ng raised the holding via vehicles including Yeo Hiap Seng Ltd., 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% in Hong Kong Wednesday, the most since its listing in 1994.
Vitasoy Executive 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% to HK$171 million ($22 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.
--With assistance from Annabelle Droulers, David Ingles and Joanne Wong.
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