NOL shares surge on talk of potential sale

Singapore

SHARES of Neptune Orient Lines (NOL) surged on Monday to their highest level in almost seven weeks on talk last week of a potential sale of the loss-making shipping liner.

NOL shares jumped as much as nine cents or 10.3 per cent to 96.5 Singapore cents before settling at 94 cents, up 6.5 cents or 7.43 per cent from S$0.875 last Thursday. Friday was a public holiday. The stock made it to the top 20 most actively traded after 30.1 million shares changed hands. NOL shares sank below the S$1 mark in early June.