Hot stock: Heavy trading in The Place Holdings amid talks to sell 11% stake in Realty Centre site

SHARES of The Place Holdings were heavily traded on Thursday (May 11) after the group said it is in talks to sell up to 11 per cent of New Vision Holding – the entity that owns the land and building formerly known as Realty Centre on 15 Enggor Street.

The group expects its share of the potential proceeds from the deal to be S$8.8 million, which is 13.6 per cent of the company’s entire market capitalisation of S$64.7 million as at the midday trading break.

The counter hit a near two-month high on Thursday, climbing as much as 33.3 per cent or S$0.003 to S$0.012 as at 10.22 am. This came after the property management and media company resumed share trading on Thursday morning, following a halt called on Monday.