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Vard shares up on new cruise ship order

Announcement of 1b kroner contract sends shares above the S$0.24 offer price from its Italian parent

Published Tue, Jan 17, 2017 · 09:50 PM

Singapore

NEWS of Vard Holdings' one billion Norwegian kroner (S$168 million) cruise shipbuilding order lifted shares in the yard group to an intra-day high of S$0.25 on the Singapore bourse on Tuesday, above a standing offer from its Italian parent, Fincantieri, to take the Singapore subsidiary private.

Vard announced past midnight on Monday that it had signed a letter of intent for the design and construc…

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