Crane rental company MS Holdings it is currently in preliminary discussions with several parties to explore a potential transaction.
Shares in MS Holdings jumped as much as 44 percent to S$0.13 on the Singapore Exchange.
MS Holdings said discussions pertains to securities of the company, certain business of the group and its assets, the company said in a regulatory filing.
The discussions are on-going and no definitive terms have been agreed upon between the parties, the company said.
MS Holdings added that there is no certainty or assurance whatsoever that any transaction will arise from these discussions.
MS Holdings is one of Singapore's earliest mobile crane company, with a primary focus on mobile cranes and lorry cranes. Its fleet of cranes have lifting capacities ranging from 25 tonnes to 750 tonnes, the Group's mobile cranes are deployed in a wide range of lifting operations within the construction, marine, logistics, oil and gas as well as infrastructure industries.
Shares in Catalist-listed firm were up 33 percent at S$0.12. The stock has gained 14 percent over an year.