Hot stocks: AEM rises on revenue optimism; Ossia sinks after dividend typo

SHARES of mainboard-listed AEM Holdings jumped on Friday, a day after it upped its full-year revenue guidance to between S$480 million and S$500 million.

The stock surged as high as S$3.68 during Friday's trading session, up 11.9 per cent or 39 cents. It closed at S$3.63, 10.33 per cent or 34 cents higher than the previous day's close, with 15.1 million shares traded. When the company announced its H1 results, it had pegged FY20 revenue to come in at S$460 million to $480 million.

AEM, which provides advanced chip testing solutions, said in a regulatory update on Thursday evening that the revision was based on sales-order visibility and business outlook. Capital expenditure would remain unchanged at about S$4 million.

Separately, watch-listed Ossia International's shares on Friday lost most of their gains from the previous day, after the luxury-goods retailer and distributor announced it had made a typo error when it recommended its dividend.

The first and final dividend for the year ended March 2020 should have been 0.9 Singapore cent, instead of the 90 cents it announced on Wednesday, Ossia clarified on Thursday night.

After the original dividend announcement, its share price had jumped 78.8 per cent or 7.8 cents to 17.7 cents on Thursday morning before Ossia called for a trading halt. It lifted the halt at 4.45pm after issuing the clarification.

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On Friday, shortly after market open, the counter tumbled 35 per cent or 6.2 cents to an intra-day low of 11.5 Singapore cents. It then inched up to trade at 12 cents as at 3.39pm, down 32.2 per cent or 5.7 cents from Thursday's close, with 634,300 shares changing hands.