Hot stock: Nam Cheong continues to fall post-share consolidation; shares are down 40.3%

SHARES of mainboard-listed Nam Cheong : 1MZ 0% continued to tumble on Friday (Mar 15), its second day of trading following a four-year suspension, share consolidation and capital reorganisation.

The counter dropped to a low of S$0.20 in afternoon trade, down about S$0.14 from its closing price of S$0.335 on Thursday – the day its shares resumed trading on the Singapore Exchange.

On Thursday, the Malaysian offshore support vessel builder said its 100-to-1 share consolidation and capital reorganisation took effect on Monday.