Hot stock: Auric Pacific up 13% on takeover offer

SHARES of Auric Pacific Group surged by some 13 per cent on Tuesday, after news that Silver Creek Capital has made a voluntary conditional cash offer of S$1.65 per offer share to delist and privatise the group.

The mainboard-listed food manufacturing and retail company called for a trading halt on early Tuesday, before it announced that Silver Creek Capital - an investment holding entity jointly owned by Stephen Riady and Andy Adhiwana - had made the takeover offer.

It resumed trading at about 10am at S$1.65, some 13 per cent higher than its previous close of S$1.455. The stock has been trading steadily at this level since. As at 3pm, over 1.8 million shares had changed hands.