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Companies & Markets

Hot stock: Neptune Orient shares jump after sources say Temasek plans sale

Published Mon, Jul 20, 2015 · 01:37 AM
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[SINGAPORE] Shares in Singapore's Neptune Orient Lines rose as much as 10 per cent on Monday to a six-week high, after people familiar with the matter said last week Singapore state investor Temasek Holdings has put the shipping company up for sale.

Temasek has hired a bank to seek buyers for the business, which made a net loss in five of the past six years, the people told Reuters.

Neptune Orient said in a statement late on Sunday it has not made any decision on a potential sale of the company, nor entered into any agreement regarding a sale.

REUTERS

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