Yangzijiang Financial closes 7.4% higher amid heavy trading, hits record in intra-day trade
The company will be added to STI’s reserve list, comprising the five highest-ranking non-constituents of the index by market capitalisation
[SINGAPORE] Shares of Yangzijiang Financial hit an all-time high on Friday (Sep 12) morning.
As at 9.43 am, the stock climbed to S$1.17 in intra-day trade, 8.3 per cent or S$0.09 above its closing price of S$1.08 on Thursday, with some 24.8 million shares transacted.
This was the highest price Yangzijiang Financial shares have reached since its spin-off from Chinese vesselmaker Yangzijiang Shipbuilding in April 2022, ShareInvestor data showed.
The counter was the top-traded stock on the Singapore Exchange (SGX) by volume as at 10.51 am, with close to 33 million shares changing hands.
It eventually ended the day at S$1.16, up by 7.4 per cent or S$0.08, with around 47.8 million shares having changed hands.
Yangzijiang Financial will be added to the Straits Times Index’s reserve list from Sep 22. This list comprises the five highest-ranking non-constituents of the index by market capitalisation.
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Its market cap stood at S$3.76 billion as at Thursday, SGX data indicated.
The company in August recorded a 28 per cent rise in its first-half net profit, which stood at S$137.7 million, compared with S$107.4 million in the year-ago period.
In April, it said it was mulling a spin-off of its maritime investment segment into a newly incorporated entity with a separate listing on the SGX mainboard.
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Yangzijiang Financial’s principal businesses comprise investment management and debt investment.
