Hyflux in continued talks with potential investors, says Utico's $294m offer not binding

Hyflux in continued talks with potential investors, says Utico's $294m offer not binding

People gather during a protest on Hyflux Ltd. debt restructuring plan in Singapore on March 30. Photographer: Bryan van der Beek/Bloomberg

Embattled water treatment firm Hyflux Ltd has clarified that the offer made by Middle Eastern utility firm Utico FZC to its small investors is not binding as the Singapore company continues to talk to several other potential investors.

In a statement to the Singapore Exchange, Hyflux said the discussion at a meeting attended by its representatives and those of Utico and the Securities Investors Association was focused on “high-level views” which entailed no conclusive number or percentages, or any binding agreement.

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