TMC Education surges after Fragrance CEO launches takeover bid
Singapore
SHARES of TMC Education Corporation Ltd surged as much as 120 per cent on Friday on news of a takeover bid by the chief executive of real estate developer Fragrance Group.
TMC Education, which resumed trading on Friday after requesting for a trading halt on Thursday pending the release of an announcement, kicked off at S$0.068 on Friday.
It hit an intra-day high of S$0.088, before closing at S$0.076. Some 414,000 shares worth S$31,100 changed hands.
On Friday morning, it was announced in a Singapore Exchange filing that Singapore tycoon Koh Wee Meng had entered into a share purchase agreement with TMC Education's controlling shareholders Chin Kon Yuen and his spouse, Yeow Cheng Khim, to purchase about 85 mil…
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