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

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.