Wilmar shares jump 7.7%; company provides update on proposed listing of China unit

Singapore

SHARES in agrifood group Wilmar International surged on Tuesday, prompting a query from the Singapore Exchange. Wilmar subsequently announced that its China subsidiary has submitted an updated initial public offering (IPO) prospectus to the Shenzhen Stock Exchange.

The counter hit an intra-day high of S$4.26, before easing slightly to close at S$4.18, up S$0.30 or 7.7 per cent. Some 30.4 million shares changed hands, making it one of the most heavily traded counters by volume on the Singapore bourse for the day.