Hot stock: Sino Grandness slips nearly 19%
THE share price of main board-listed Sino Grandness has plunged by almost 19 per cent in early morning trade on Wednesday, after the Chinese food manufacturer revised down its terms of rights issue.
As at 10.11am on Dec 14, the counter had fallen by 5.5 Singapore cents, or 18.64 per cent, to 24 Singapore cents.
On Tuesday night, it announced that it has revised its rights issue basis to five rights shares for every 11 held. The maximum number of shares that can be issued is now 332.3 million.
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: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling