Indo Global Exchanges Pte Ltd (OTC:IGEX) Stock Gains Momentum: What’s the Buzz?
As the trading week winds down, investors are still going to be on the lookout for stocks to follow, and this morning the Indo Global Exchanges Pte Ltd (OTC:IGEX) stock could well be one to track. Yesterday, the company announced that on March 20, 2024, it had filed an SEC 8K form, which formalized the acquisition of Saint Andrews.
The company revealed that it had been involved for many months in negotiations and due diligence. Eventually, on March 18, Indo Global Exchanges completed all the requisite agreements and acquired a 25% corporate membership in Saint Andrews.
In the news release, it was also revealed that the stake acquired by the company was worth around $8.6 million. The acquisition had been completed by Indo Global Exchanges for a discounted sum of $6 million. In this situation, it could be a good move for investors to consider taking a closer look at Saint Andrews.
The organization works through a number of companies and is involved in sustainable marine aquaculture as well as marine resource exploration. Additionally, it is also involved in farming fingerlings of a range of species. The holding company has direct shares in a number of companies involved in the fishing and aquaculture industries. Saint Andrews boasts more than half a century of track record in the marine aquaculture industry.
The company aims to keep growing through the acquisition of smaller companies in the above-mentioned industries. In light of the announcement from Indo Global Exchanges, it is going to be interesting to see if there is any interest in the company’s stock this morning. The company is still in the development stage and is mainly focused on the development of business opportunities. The latest move from the company would help it make an entry into an exciting new industry.
