IPC soars, fuelled by proposed hotel, robot firm deals

Singapore

SHARES in IPC Corporation surged as much as 71 per cent on Tuesday on news of a hotel disposal and the purchase of a majority stake in a robot development company.

The stock, which resumed trading on Tuesday following a trading halt the previous day, kicked off at S$0.47 - also its intra-day low - and hit a high of S$0.64 before closing at S$0.525, up 15 cents or 40 per cent. Some 549,000 shares worth S$297,000 changed hands. It was one of the top five absolute gainers, alongside Great Eastern and Yanlord Land. The stock was also the second biggest percentage gainer after Asti. On Monday, IPC, an investment company, said in an after-market announcement that it had signed a non-binding heads of agreement to sell its …