Nippecraft in talks on Jurong West property, but says sale not guaranteed

CATALIST-LISTED Nippecraft is in discussions with a third party on its Jurong West property, the stationery company said on Wednesday (Jun 29), in response to an SGX query on its high trading volume and share price surge earlier in the day.

There is no certainty that these discussions will lead to a sale of the property at 9, Fan Yoong Road, the company said in its filing after the market close. Nippecraft had previously disclosed on Apr 26 that it is reviewing its options for the property.

Earlier on Wednesday (at 9.18am), Nippecraft’s share price peaked for the day at S$0.055, with 9.6 million shares traded. This was 34.1 per cent higher than its closing price of S$0.041 on Tuesday, when 1.2 million shares were traded.

The company called for a trading halt after the bourse query. It last traded at S$0.052 before the halt, up 26.8 per cent.

Nippecraft said that it is unaware of any information not previously announced that would explain the trading activity. The company has also called for its trading halt to be lifted.