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".