Global Invacom surges after deal to acquire Tactilis unit called off

Singapore

GLOBAL Invacom Group (GInva) shares surged during Monday's session after the company and Tactilis Pte Limited mutually terminated a deal for the latter's Malaysian subsidiary.

Shares of the satellite communications equipment provider gained as much as 80 per cent in early trading before easing to close at 6.3 Singapore cents, up 2.1 cents or 50 per cent. The usually thinly traded counted saw 45.9 million shares traded, with the value of those trades amounting to S$3.17 million.