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Hot Stock: QT Vascular jumps on hopes of asset sale
SHARES of QT Vascular, a maker of coronary products, surged on Monday amid hopes over a "potential transaction" linked to certain coronary assets as announced over the weekend.
The stock rose 0.1 Singapore cent to 1.2 Singapore cents with some 34 million shares changing hands as at 9.25am, making it the most actively traded stock during early morning trade.
By market close, QT Vascular's counter had settled back at 1.1 Singapore cents, but was the fifth-most actively traded stock, with some 41.9 million shares changing hands.
QT Vascular said the indications of interest are not legally binding and not definitive. The negotiations were first announced in May this year.