Singapore Medical Group hits all-time high

Singapore

SINGAPORE Medical Group (SMG) on Thursday rose S$0.055 Singapore cents or 20.4 per cent to S$0.325 - an all-time high. With more than 53 million shares changing hands, it was the third most active counter after Noble Group and Ezra Holdings.

This came after RHB initiated coverage on the specialist healthcare provider with a "buy" rating and a target price of S$0.45 on Thursday, but also following recent announcements that it was boosting its ownership in its associated company, Lifescan Imaging, to 100 per cent.