Hot stock: Perennial shares up 12.1% after disclosure on substantial shareholders mulling options

PERENNIAL Real Estate Holdings saw its shares surge 12.1 per cent on Tuesday shortly after the market opened.

The property developer's shares rose to a high of S$0.65 as at 9.28am on Monday, up 12.1 per cent or S$0.07. This was before they retraced to 62.5 Singapore cents as at 10.14am, up 4.5 cents or 7.6 per cent from Monday's closing price of S$0.58. The share surge comes as Perennial disclosed on Monday night that certain of its substantial shareholders are"The company understands that a decision has yet to be made by such substantial shareholders, and there is no assurance that a transaction will take place," Perennial said in the regulatory update.

As at March 31, Perennial chairman Kuok Khoon Hong holds the largest stake in the company at 27.9 per cent. Next is Wilmar International, which holds a 20 per cent stake, followed by Sim Chye Hock at 15.3 per cent, and chief executive Pua Seck Guan at 10.4 per cent.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Price jump due to substantial shareholders mulling options for their stakes: PerennialPERENNIAL Real Estate Holdings, the share price of which added S$0.075 or 14.9 per cent to S$0.58 on Monday, said in an evening disclosure that it has been notified that some substantial shareholders are reviewing the options in relation to their holdings in the property company. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »