Asiatravel.com shares soar on ZhongHong's takeover bid

Singapore

IT'S a deal that took over a year to come to fruition and after what could possibly be many twists and turns, Catalist-listed Asiatravel.com Holdings announced on Friday that Shenzhen-listed ZhongHong Holdings intends to make a cash bid for the firm at 30 Singapore cents a share in a deal worth S$93 million.

The news sent the stock on a sugar rush, soaring 22 per cent or five cents to 28 Singapore cents when it resumed trading on Friday afternoon after a halt since mid Wednesday pending the announcement.