Hot stock: Wee Hur falls by over 8% after exit from Australian student dorm business

SHARES of construction engineering company Wee Hur fell on Tuesday (Dec 17) morning, after the group announced that it is selling its Australian-focused purpose-built student accommodation (PBSA) portfolio for A$1.6 billion (S$1.4 billion).

As at 10.04 am, the counter tumbled by 8.4 per cent or S$0.04 to S$0.435, with 16.5 million shares changing hands.

The share price then rose to S$0.44 at 10.20 am, still down 7.4 per cent or S$0.035, with 17.3 million securities transacted, before falling again to S$0.435 at 10.29 am.