Shares of Singapore oil and gas services firm Jasper Investments (JASP.SI) jumped as much as 13% on Wednesday to a near one-month high after it said Singapore state investor Temasek Holdings (TEM.UL) had become a substantial stakeholder.
At 10:17 a.m., shares of Jasper were 9.8% higher at $0.067 with over 2.4 million shares changing hands. This was seven times its average daily volume over the last five sessions.
At 10:17 a.m., shares of Jasper were 9.8% higher at $0.067 with over 2.4 million shares changing hands. This was seven times its average daily volume over the last five sessions.
A unit of Temasek Holdings acquired 41 million shares in Japsper through a placement, increasing its stake in the firm to 5.88%, Jasper said in a filing to the stock exchange on Tuesday.
“This has definitely given a boost to Jasper’s shares, as investors believe that its business must be fundamentally sound if a large well-known investor like Temasek buys into the stock,“ said a local dealer.
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