Yokohama to buy 2.5% stake in Singapore's YHI

Newswire

SINGAPORE, June 24 (Reuters) - Singapore auto parts maker and distributor YHI International Ltd said on Tuesday that Japanese tyre-maker Yokohama Rubber Co Ltd is buying a 2.5 percent stake in its initial public offering. Yokohama will pay S$2.9 million ($1.7 million) for 5.8 million new shares at S$0.50 each, the price at which YHI is selling a total of 58 million shares. YHI distributes Yokohama tyres, and the two companies are also collaborating in a joint tyre manufacturing venture ...

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