Albedo jumps on proposed S$3m placement deal but ends flat

Singapore

SHARES of Catalist-listed Albedo jumped on Monday after it announced a S$3 million share placement to a Shanghai-based Malaysia businessman that could help it take a stab at China's medical aesthetics market.

The usually thinly traded penny stock spiked to S$0.013 but ended trading flat at S$0.011. It was one of the top 20 most active counters on the local bourse, with 26.8 million shares changing hands.