Spackman shares in play on news of sale of Zip Cinema

Singapore

SHARES of Spackman Entertainment rose as much as 50 per cent on Wednesday after the group announced it was selling Zip Cinema for S$19.8 million to South Korea's Kakao Corp.

As at 9.04 am, Singapore time, the counter had risen 0.2 Singapore cent or 50 per cent to 0.6 cent after some 35.9 million shares changed hands, making it the top-traded by volume at the market open.

The stock pulled back slightly to finish the first half of the trading day at 0.5 cent.

In the second half of the trading day, Spackman shares sank to 0.4 cent at 2.46pm, before rising again to 0.5 cent. The stock close…

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