SK Jewellery shares up 56.8% after co-founders' privatisation bid
The offeror says going private will give it more control and cost savings
Singapore
SHARES of Catalist-listed SK Jewellery Group reached a two-year high on Wednesday after the jeweller's co-founders offered to take the company private at 15 Singapore cents per share.
The counter hit an intra-day high of 14.9 cents on Wednesday, up 56.8 per cent or 5.4 cents as at 1.05pm, just shy of the offer price. The last time the counter closed near this level was in late July 2018.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama