Hot stock: Don Agro surges after plans to sell 92.3% group assets for 4.5 billion roubles
SHARES of Don Agro International surged in early trading on Monday (Apr 29) after the group announced that its wholly owned JSC Tetra is selling all stakes in four subsidiaries based in Russia for a total of 4.5 billion roubles (S$66.4 million).
As at 9.21 am, the counter rose 55.2 per cent, or S$0.08, to S$0.225, with 15,000 shares changing hands. The last time it traded above S$0.20 can be traced back to October 2023.
The Catalist-listed agri-player in the Commonwealth of Independent States said before market opened on Monday that its unit Tetra had entered into preliminary sales and purchase agreements last Friday with two companies separately.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Dollar slips after unexpected rise in US producer prices
Miyoshi chief executive charged over accounting irregularity
Jack Ma-backed Ant’s profit fell 19% as regulations curb growth
Frencken Q1 earnings up 73% to S$9 million on back of revenue growth, higher gross profit margin
India’s Bharti Airtel posts Q4 revenue miss on currency devaluation in Africa
Sea posts US$23 million Q1 loss; higher costs temper record-high Shopee revenue