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Hot stock: OKH Global falls nearly 80%

Monday, March 21, 2016 - 13:16

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.

sentifi.com

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