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Hot stock: Heavy trading in Jubilee after proposal to sell electronics business unit

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Vivienne Tay

Vivienne Tay

Published Thu, Mar 23, 2023 · 03:15 PM
    • The group is looking to sell its remaining 86 per cent stake in We Components for US$15.9 million in cash.
    • The group is looking to sell its remaining 86 per cent stake in We Components for US$15.9 million in cash. PHOTO: PIXABAY

    SHARES of Catalist-listed Jubilee Industries rose as much as 27.9 per cent amid heavy trading on Thursday (Mar 23).

    This came after the group said on Wednesday it will sell its remaining 86 per cent stake in its electronics business unit, We Components, for US$15.9 million in cash.

    Jubilee executive chairman and chief executive Terence Tea said the company intends to “return the sale proceeds to shareholders in an effective and cost-efficient manner” to the fullest extent permissible under the law.

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