Hot stock: Heavy trading in The Place Holdings amid talks to sell 11% stake in Realty Centre site
SHARES of The Place Holdings : E27 0% were heavily traded on Thursday (May 11) after the group said it is in talks to sell up to 11 per cent of New Vision Holding – the entity that owns the land and building formerly known as Realty Centre on 15 Enggor Street.
The group expects its share of the potential proceeds from the deal to be S$8.8 million, which is 13.6 per cent of the company’s entire market capitalisation of S$64.7 million as at the midday trading break.
The counter hit a near two-month high on Thursday, climbing as much as 33.3 per cent or S$0.003 to S$0.012 as at 10.22 am. This came after the property management and media company resumed share trading on Thursday morning, following a halt called 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
Microsoft offers cloud customers AMD alternative to Nvidia AI processors
CEO of fallen Eagle Hospitality Trust seeks to contest four criminal charges
Crypto boom, erratic rain spark outages in Laos, Asia’s clean power export hub
Bank of Japan in no rush to sell risky asset holdings
Gold prices set for second weekly gain on Fed rate outlook
China’s first special bond sale likely to see solid demand