Seatrium jumps 12.6% to S$2.59 after MOU with BP

SHARES of Seatrium surged on Thursday (Feb 13) after it announced its memorandum of understanding (MOU) with BP Exploration & Production, a subsidiary of multinational oil and gas company BP, to conduct engineering works on a floating production unit (FPU) in the Gulf of Mexico.

At 1.20 pm after the midday trading break, the counter was trading at S$2.59, up by 12.6 per cent or S$0.29 from Wednesday’s closing price of S$2.30. The last time it traded at such levels was in February 2018. 

Earlier at 9.41 am, it had risen to S$2.45, up 6.5 per cent or S$0.15. It then climbed further to S$2.49 at 11.31 am, where it was trading up by 8.3 per cent or S$0.19, with 48.6 million shares changing hands.