Polaris soars as Softbank takes stake in associate

Singapore

POLARIS Ltd was Wednesday's most actively traded stock on the Singapore Exchange with its price hitting a high of 2.4 Singapore cents before ending the day at 2.1 cents, up half a cent or 31.25 per cent. Around 97 million shares changed hands, up from the 2.34 million on Tuesday. Average three-month trading volume for the stock is 2.76 million.

The increased interest in the counter follows Polaris' announcement on Tuesday, after market closing, of Japan's SoftBank group acquiring a 19.9 per cent stake in its Indonesian associate company, PT Trikomsel Oke Tbk.