Hot stock: Yangzijiang Shipbuilding up as much as 7.9%

SHARES of Yangzijiang Shipbuilding rose in early morning trade on Wednesday (May 18).

The counter traded as high as S$0.90 as at 2.18 pm, up 9.1 per cent or S$0.075.

A married deal of 2.1 million shares worth S$0.829 each was recorded at 8.31 am, according to ShareInvestor data.

The stock price eased slightly to S$0.885 as at 11.47 am, up S$0.06 or 7.3 per cent. The counter remained one of the most actively traded by volume, with 39.9 million shares worth S$34.3 million changing hands.

The counter ended the day S$0.055 or 6.7 per cent higher at S$0.88.

Yangzijiang Shipbuilding in April spun off and listed its investment unit, Yangzijiang Financial Holding (YZJFH), on the Singapore Exchange with the aim of unlocking value for the company’s shareholders.

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YZJFH stock saw lacklustre performance since its debut, and closed its first day of trading at S$0.62 – representing a discount of nearly 43 per cent to its net tangible asset per share of around S$1.08.