You are here

Hot stock: S'pore's Polaris surges 37.5% after SoftBank deal


[SINGAPORE] Shares of Singapore-listed Polaris Ltd surged 37.5 per cent on Wednesday morning, a day after the company said Japan's SoftBank bought a stake in its associated firm PT Trikomsel Oke Tbk.

SoftBank Group holds a combined 19.9 per cent of the total shares issued by Indonesia's Trikomsel, Polaris said in a statement, adding that it remained the largest shareholder in the company with a 44.88 per cent stake.

Polaris, which sells mobile devices and electronics, is controlled by Sugiono Wiyono, president director of Trikomsel.


BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to