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Sapphire gains on buy-in by HK-listed property group

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Published Thu, Oct 19, 2017 · 09:50 PM

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SHARES of Sapphire Corp rose on Thursday after it announced on Wednesday night that two of its largest shareholders are selling a 27.96 per cent stake in the company to Hong Kong-listed Hong Kong International Construction Investment Management Group (HKICIM) in a share swap that values the shares of the investment management firm at 51 Singapore cents apiece.

The stock closed at S$0.315, up one Singapore cent from the previous close.

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