The Business Times
business-time-50
SUBSCRIBERS

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

google-preferred-sourceAdd BT as a preferred source
Vivienne Tay

Vivienne Tay

Published Wed, Aug 5, 2020 · 09:50 PM
Shares jump

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.

E-commerceV2Y Corp

TRENDING NOW

Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

Wee Ee Cheong, deputy chairman and CEO of UOB, sees "significant opportunities" in wealth management.

UOB aims to double wealth income to at least S$2.5 billion by 2030; Q1 profit slips 4%

Sony plans to buy Recognition Music Group through a joint venture with the Singaporean sovereign wealth fund GIC.

Sony, Singapore’s GIC to pay almost US$4 billion for Bieber, Neil Young catalogue

Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
View More