Synagie shares up 6.9% on proposed e-commerce business disposal

Singapore

SHARES of Synagie Corporation gained 6.9 per cent on high trading volume Wednesday, after the company said it plans to dispose of its e-commerce business for S$61.7 million which will allow it to focus on its insurtech business.

Synagie plans to distribute 18 cents per share to shareholders from the sale proceeds, if the deal is approved - nearly equivalent to its current share price.