KOP shoots up on news of Sam Goi taking 20% stake

Singapore

SHARES in KOP Ltd surged as much as 23 per cent in price to S$0.096 on Monday on news of a proposed share placement that would give 'Popiah King' Sam Goi a one-fifth stake in the Catalist-listed real estate development and hospitality company.

Some market observers said that the market could have earlier caught hint of the placement as the stock had soared 50 per cent to S$0.078 last Friday, ahead of the announcement that came shortly after midnight. This prompted some to wonder why no trading halt h…