Hot stock: OKH Global surges 38.9% after proposed acquisition of Chip Eng Seng Construction
The company says the deal could help to revitalise the business and provide a strong financial footing for it to pursue future growth opportunities
SHARES of OKH Global surged on Thursday (Dec 5) after the group announced that it plans to acquire Chip Eng Seng Construction for about S$118.5 million.
The counter rose 38.9 per cent or S$0.007 to S$0.025 when the market opened. Some 7.8 million shares were transacted at that time.
The share price later eased to S$0.021, still up 16.7 per cent or S$0.003 before the midday trading break. By 2.41 pm, shares of OKH Global were trading 22.2 per cent or S$0.004 higher at S$0.022, with 38.1 million securities changing hands. It ended the day at S$0.026, up 44.4 per cent or S$0.008.
Copyright SPH Media. All rights reserved.
