PSL rebounds to 10-week high

Singapore

SHARES in PSL Holdings rebounded to end near a more than 10-week high on Friday - the day when its 10-into-one share consolidation became effective. The rise also followed the completion this week of its acquisition of a stake in an Indonesia-based marine logistics business.

The stock traded between S$0.88 and S$0.36 before ending at S$0.82, up 17 cents or 26.2 per cent from S$0.65 on Nov 24 and close to the S$0.83 price in mid-September. The effective trading date of the consolidated shares was Nov 24, three market days before the consolidation effective date of Nov 27. About 590,000 shares changed hands.