SUBSCRIBERS

Addvalue soars on sale-of-unit update

Consideration revised to S$308m from S$330m but transaction targeted for wrap-up within four months

Mindy Tan

Published Tue, Jun 7, 2016 · 09:50 PM

Singapore

SHARES of Addvalue Technologies soared as much as 90.6 per cent on Tuesday to the day's high of 6.1 Singapore cents on news that the company is working to complete the sale of wholly owned Addvalue Communications to a Chinese buyer within four months.

Addvalue made the announcement after its pre-market request for an immediate share trading halt. When trading was lifted at 11am, the stock kicked off at five Singapore cents, up from 3.2 cents, then traded as high as 6.1 cents before ending at 4.6 cents, up 1.4 cents or 43.75 pe…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes