Hot stock: Global Dragon shares up over 15% after news of takeover bid

SHARES of Global Dragon rose on Monday (Feb 13) after the Catalist-listed company received on Friday a voluntary conditional cash offer, from Fragrance Group founder Koh Wee Meng, to be taken private at S$0.12 apiece.

As at 9.07 am, Global Dragon was up 15.2 per cent or S$0.016 to S$0.121. The last time the stock rose to more than S$0.12 was in December 2021. 

The counter later eased to trade at S$0.12, up 14.3 per cent or S$0.015 as at 9.25 am.