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Hot stock: S'pore's Polaris surges 37.5% after SoftBank deal


[SINGAPORE] Shares of Singapore-listed Polaris Ltd surged 37.5 per cent on Wednesday morning, a day after the company said Japan's SoftBank bought a stake in its associated firm PT Trikomsel Oke Tbk.

SoftBank Group holds a combined 19.9 per cent of the total shares issued by Indonesia's Trikomsel, Polaris said in a statement, adding that it remained the largest shareholder in the company with a 44.88 per cent stake.

Polaris, which sells mobile devices and electronics, is controlled by Sugiono Wiyono, president director of Trikomsel.