Hot stock: Noel Gifts hits over 6-year high with Playfair Road sale

SHARES of Noel Gifts International surged to a record high on Friday (Nov 24) after the group reported that it expects to book some S$30.61 million from the S$81.18 million sale of the 10 units it owns at 50 Playfair Road, a freehold industrial property.

This sum comes after accounting for estimated expenses to date, announced the mainboard-listed group before the market opened.

As at 9.23 am on Friday, the counter was trading S$0.095 or 47.5 per cent higher at S$0.295 after 149,200 securities changed hands. The last time it reached such levels was in January 2017.