Monday, June 22, 2015

Amtek shares jump 8.2% after stake sale report

Shares of mainboard-listed Amtek Engineering rose as much as 8.2 per cent to 73 cents on Monday moring, their highest in more than 2 weeks, after Bloomberg News reported on Friday that CVC Capital Partners and Standard Chartered Private Equity are exploring the sale of their majority stake in company.

Standard Chartered and CVC hold a combined 58 per cent in Amtek,valued at US$212 million at close of trading on Friday.
Amtek, maker of components for Tesla Motors Inc, was not immediately reachable for a comment. CVC Capital did not immediately respond to an email seeking comment, while Standard Chartered declined to comment.

Amtek, which renamed itself Interplex Holdings Ltd. on Friday after a subsidiary it acquired last year, is looking to markets outside Asia as its majority shareholders consider a possible divestment.

Hot stock: Noble continues share buyback

NOBLE Group said on Monday it has bought back a further three million shares at 69.529 Singapore cents each. The total consideration for the shares, which were purchased by way of market acquisition on June 19, was S$2.09 million.
The buyback marked the commodity trader's fifth such transaction this month.

sgx picks todayAll told, the group has bought back about 105.71 million shares - around 1.57 per cent of its total share base or 15.67 per cent of the maximum 673.95 million shares authorised for purchase under the buyback mandate. Noble, which has attracted criticism for its accounting practices, saw its shares slip 0.71 per cent, or half a Singapore cent per share, to 69.5 Singapore cents as at 9.44am on Monday.

Shares end 0.4 per cent higher on Monday

SINGAPORE shares closed 0.4 per cent higher on Monday, with the Straits Times Index up 14.17 points to 3,315.13 as investors cheered news that crisis-mired Greece had proposed fresh reforms ahead of an emergency eurozone summit.

sgx stocks picks todayThe blue-chip index was mainly lifted by Singtel, which gained 1.7 per cent or S$0.07 to S$4.30, and the three local banks.
In total, about 1.27 billion shares worth S$1.01 billion changed hands, which worked out to an average unit price of S$0.79 per share.

The most actively traded stock was Yuuzoo, which jumped 7.5 per cent or S$0.02 to S$0.285 with 75.1 million shares changing hands. Other actives included Healthway Medical and Magnus Energy.
Losers outnumbered gainers 226 to 198, or about eight down for every seven up.