Hot stock: Isetan Singapore jumps 147.5% on proposed privatisation after resuming trade
After rising more than S$4 at Tuesday’s market open, the counter is now trading close to Isetan Mitsukoshi’s S$7.20 per share privatisation offer
Vivienne Tay
SHARES of mainboard-listed Isetan Singapore surged as much as 150 per cent at Tuesday’s (Apr 2) market open, after the company announced on Monday a proposed privatisation by majority shareholder Japanese department store operator Isetan Mitsukoshi.
Isetan Singapore’s shares climbed S$4.26 to S$7.10 right after resuming trade on Tuesday, S$0.10 shy of Isetan Mitsukoshi’s S$7.20 per share privatisation offer. By 9.21 am, the counter was trading 147.5 per cent or S$4.19 higher at S$7.03, with 35,100 shares changing hands.
The company called for a trading halt on Monday morning before making the privatisation announcement; it last traded at S$2.84 on Mar 26.
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