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Hot stock: Creative shares down 15%

SHARES in mainboard-listed Creative Technology fell 15 per cent, or S$1.07 to S$6 apiece as at 1.54pm on Thursday, making it one of the top 20 losers on the Singapore bourse.

This comes after the news broke on Wednesday that co-founder Ng Kai Wa had disposed some of his shares in the company - cashing in on S$1.8 million in the process.

According to a Singapore Exchange (SGX) filing, Mr Ng sold 95,650 shares in the company on March 6, receiving S$868,799 from the transaction.

Earlier on March 5, he had also disposed 104,350 shares amounting to S$939,150.

This brings Mr Ng's stake in Creative to a total of about 2.1 million shares, or 3 per cent.

Shares in Creative hit a decade-high on March 5, reaching S$9.77 apiece in intraday trade, before closing at S$8.75.

This came on the back of bullish reports about its "3D audio" technology, which is expected to launch in the middle of this year.