Hot stock: Isetan Singapore jumps 147.5% on proposed privatisation after resuming trade

SHARES of mainboard-listed Isetan Singapore : I15 0% 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.