Hot stock: OKH Global falls nearly 80%
SHARES of builder OKH Global plunged 27.5 Singapore cents or 79 per cent to 7.5 Singapore cents mid-Monday and was most actively traded with 142 million shares done.
OKH Global's counter eventually closed 27.9 Singapore cents lower at 7.1 Singapore cents, which translated to a 79.7 per cent decline. Some 247 million shares had changed hands.
The counter resumed trading on Monday after it called for a trading halt last Wednesday following a trading activity query from the Singapore Exchange (SGX), as its shares had tumbled 17.5 Singapore cents or 33 per cent then.
In response to SGX's query on late Friday night, the property developer said that prior to the trading halt, it was in talks with Zana Investor, the holders of redeemable convertible preference shares (RCPS), on a potential disposal of certain assets which is expected to be a disclosable transaction.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Shares end higher on tech support; banks slide
US: Stocks rally on cooler hiring numbers
Singapore stocks end week in the red; STI down 0.1%
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%