Share purchase by majority shareholder may have triggered unusual trading activity, Jardine C&C says
MAINBOARD-LISTED Jardine Cycle & Carriage (Jardine C&C) said an off-market share purchase by its majority shareholder, Jardine Matheson Holdings, may be the reason behind unusual price movements in its shares on Thursday (Apr 21).
Shares of Jardine C&C, known in Singapore as a Mercedes-Benz dealer, had closed S$1.37 or 5.4 per cent higher at S$26.87 on Thursday. At the close, 912,000 shares worth S$24.2 million changed hands.
In its response to queries by the Singapore Exchange (SGX) Regulation on Thursday night, the company said Jardine Matheson had made a single block-trade of 80,000 shares "at or around prevailing market price".
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
Carrier AirAsia discloses new listing plans under RM6.8 billion units merger
Intel slides after tepid forecast spurs fears about comeback
Microsoft beats estimates as AI drives revenue
Crypto firm sues SEC to fend off oversight of Ethereum