Lasseters surges on proposed Australian asset disposal

Singapore

SHARES of Catalist-listed Lasseters International Holdings reached a three-year high on Tuesday after it proposed a disposal of its Australian assets for A$105 million (S$108.5 million), an amount nearly six times that of the group's market capitalisation of S$18.8 million before the announcement was made.

The integrated resort operator's counter jumped to an intraday high of 6.6 Singapore cents, up 2.7 cents or 69.2 per cent as at 9.04 am. The last time the counter closed near this level was in October 2017.