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Battered OKH Global shares regain some footing

Tuesday, March 22, 2016 - 13:15

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OKH Global shares regained some footing on Tuesday after a couple of tumultuous trading sessions last week and on Monday, with the counter inching up by 1.9 Singapore cents or 27 per cent to nine Singapore cents at 12.30pm.

By the end of the trading day, the counter closed at 8.5 Singapore cents, up 19.7 per cent from the day before. 

The counter once again emerged on the most active stocks list for the day, with some 287 million shares changing hands.

On Monday, shares of the property developer suffered a beating as it plunged 27.9 Singapore cents or nearly 80 per cent to 7.1 Singapore cents when it resumed trading, following a trading halt last Wednesday after it lost one third of its value.

Massive force selling by two financial institutions - UBS AG Singapore and Bank Julius Baer - of some 119.8 million pledged shares of the firm's executive chairman and CEO Bon Ween Foong had led to the sharp fall.

sentifi.com

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