Stocks to watch: Gallant Venture

THE following company saw new developments that may affect trading of its securities on Wednesday (Sep 7): 

Gallant Venture : Indonesian magnate Anthoni Salim on Tuesday raised his interest in the mainboard-listed company to 73.1 per cent, after an entity linked to him purchased 397 million shares in the company for S$50.02 million. The disclosure came after the counter soared 9.3 per cent in Tuesday’s early trade, on the back of 2 married deals – where shares were purchased at volumes of 157,000 and 240,000. Shares of Gallant Venture closed at S$0.128 on Tuesday, down S$0.001 or 0.8 per cent.