Hot stock: Nam Cheong continues to fall post-share consolidation; shares are down 40.3%
SHARES of mainboard-listed Nam Cheong : 1MZ 0% continued to tumble on Friday (Mar 15), its second day of trading following a four-year suspension, share consolidation and capital reorganisation.
The counter dropped to a low of S$0.20 in afternoon trade, down about S$0.14 from its closing price of S$0.335 on Thursday – the day its shares resumed trading on the Singapore Exchange.
On Thursday, the Malaysian offshore support vessel builder said its 100-to-1 share consolidation and capital reorganisation took effect on Monday.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
LHN warns H1 2024 net profit could decline by 28.6%
iPhone maker Hon Hai’s April sales rise 19% in positive signal
Worsening weather is igniting a US$25 billion market
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades