LHN extends rally, jumps 8.6% to record S$1.01 on SGX approval of proposed Coliwoo listing
[SINGAPORE] Shares of LHN advanced for a second day straight on Thursday (Sep 11) morning after its proposed spin-off of its co-living business received approval.
It had ended Wednesday 8.1 per cent higher at S$0.93 after Singapore Exchange had approved the mainboard listing of its co-living business Coliwoo.
The stock extended its rally from the previous day and climbed to a high of S$1.01 in early trade. This was 8.6 per cent or S$0.08 above its Wednesday closing price.
This is the highest price LHN shares have hit since it listed on the SGX in April 2015, ShareInvestor data indicated.
By 9.42 am, it was trading at S$1, still up 7.5 per cent or S$0.07, with 4.4 million shares changing hands.
On Wednesday, LHN also provided an upbeat update of its third-quarter performance and also announced that its move to delist from the Hong Kong Stock Exchange had been approved by the bourse’s authorities and shareholders.
