Jubilee up 13.5% after boosting stake in EG and broker's call

Singapore

SHARES in Jubilee Industries Holdings rose 13.5 per cent, or S$0.005, to S$0.042 apiece on Monday after the Catalist-listed company raised its stake in Malaysian-listed associate EG Industries and following a broker's recommendation.

Jubilee announced on Monday morning before market open that it had acquired about 3.5 million EG shares for RM1.95 million (S$658,000) from the open market, raising its stake in the firm from 11.72 per cent previously to 13.03 per cent.