Raffles Education leads most active pack on SGX with 43 million shares traded; price jumps 24%
Counter hits peak of S$0.133 on Monday; volume is 4 times its average daily figure
Raffles Education led the pack of actives on the Singapore Exchange (SGX) on Monday (Dec 15).
The counter surged as much as 24.3 per cent, gaining S$0.026 to a peak of S$0.133 as at 2.44 pm. It later pared some gains to stand at S$0.13 as at 3.40 pm.
More than 43.6 million shares had exchanged hands as at that time, dwarfing the volumes of other actives like Aoxin Q&M, Marco Polo Marine and Singtel.
Last Thursday, Raffles Education completed the fourth tranche of a S$1 million bond issuance to Ng San Tiong as part of a wider capital-raising exercise first announced in June. The total proposed bond issuance was S$10 million, of which 40 per cent has been completed.
Earlier this month, it also sold its 51 Merchant Road property for S$121.8 million. Despite the price tag being S$30.9 million below market value, the company logged a S$53 million gain from the sale. The buyer was a joint venture between Elevate Capital and LaSalle Investment Management.
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