Shares of Singapore electric equipment maker SMB United (SMBU.SI) surged on Thursday after Tokyo-listed Osaki Electric Co (6644.T) made an offer to buy the company that trumped an earlier bid by China's Boer Power Holdings (1685.HK).
At 9:00 a.m., SMB shares were up 9.6% at $0.40, matching Osaki's offer price. Some 4.8 million SMB shares were traded, more than triple the average daily volume in the last 30 days.
At 9:00 a.m., SMB shares were up 9.6% at $0.40, matching Osaki's offer price. Some 4.8 million SMB shares were traded, more than triple the average daily volume in the last 30 days.
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