New Wave shares soar on proposed offer from Fragrance CEO

Singapore

SHARES of New Wave Holdings climbed as much as 56 per cent on Monday, following news of a proposed offer by Fragrance Group's chief executive.

The stock, which resumed trading on Monday after a trading halt on Oct 20, kicked off at S$0.013 - also its intra-day low - and hit a high of S$0.014 before closing at S$0.013 again, up 0.4 Singapore cent or 44 per cent. Some 44.3 million shares worth S$587,600 changed hands.