Broadway Ind surges 34% on US$50m offer for its hard disk business

Singapore

SHARES of Broadway Industrial hit a near 3.5-year high on Tuesday after the precision manufacturer announced it received a US$50 million offer for its hard disk business from the largest production outfit of the Seksun group of companies.

The counter hit an intraday high of 16.6 Singapore cents on Tuesday, up 33.8 per cent or 4.2 cents as at 4.40pm. The last time the counter closed near this level was on April 5, 2017.