Artivision surges after rights issue

SHARES in Artivision Technologies surged by some two-thirds yesterday following the completion of a rights issue which saw the emergence of Ching Chiat Kwong of Oxley Holdings fame as a substantial shareholder.

Yesterday, the stock rose from 2.9 cents to a high of five cents - a whopping 72 per cent - before closing for a net 1.9 cents or 65 per cent gain at 4.8 cents. The two-for-five rights issue at two cents a share saw Mr Ching take up over 17 million rights shares, and an additional 15.2 million unsubscribed shares …