Shares of Singapore’s TT International surged more than 30% after the company signed a $200 million agreement with private equity real estate firm Lucrum Capital for a warehouse retail project in the city-state.
TT International trades consumer electronics and also provides warehousing and logistics services.
TT International shares were up 34% at $0.067 on volume of more than 38 million shares, about 9 times the average full-day volume traded over the past 30 days.
The shares have jumped more than 640% so far this year. In January, TT International said Lucrum Capital had proposed to invest at least $200 million in the Big Box project in Jurong, western Singapore.
“This project is quite promising because Jurong is being developed as a commercial hub in Singapore. This announcement is positive because they have secured a partner,” said Wilson Liew, an analyst at Maybank Kim Eng.
No comments:
Post a Comment