You are here

Hot stock: Neptune Orient shares jump after sources say Temasek plans sale

nol2.jpg
Neptune Orient Lines Ltd's headquarters building looms over vessels plying Singapore's port.

[SINGAPORE] Shares in Singapore's Neptune Orient Lines rose as much as 10 per cent on Monday to a six-week high, after people familiar with the matter said last week Singapore state investor Temasek Holdings has put the shipping company up for sale.

Temasek has hired a bank to seek buyers for the business, which made a net loss in five of the past six years, the people told Reuters.

Neptune Orient said in a statement late on Sunday it has not made any decision on a potential sale of the company, nor entered into any agreement regarding a sale.

REUTERS