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Hot stock: Boustead stocks surge as much as 10% after news of takeover offer

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Janice Tan

Published Tue, Feb 7, 2023 · 09:56 AM
    • Boustead Projects' business park development, Alice@Mediapolis. No married deals have been recorded in early trade for either counter.
    • Boustead Projects' business park development, Alice@Mediapolis. No married deals have been recorded in early trade for either counter. PHOTO: BOUSTEAD PROJECTS

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    SHARES of both Boustead Singapore and Boustead Projects climbed on Tuesday (Feb 7) after the former on Monday made an offer to take its real estate subsidiary private. 

    As at 9 am, Boustead Singapore rose 10.3 per cent or S$0.085 to S$0.91, while Boustead Projects rose 10.7 per cent or S$0.09 to S$0.93. The last time the counters traded at such levels was in September and July 2022, respectively.

    Boustead Projects later eased to trade at S$0.915, up S$0.075 or 8.9 per cent, as at 9.28 am. Its parent company was up S$0.06 or 7.3 per cent at S$0.885 by 9.29 am.

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