Crane rental firm Tat Hong surges 20% as trading resumes

Crane rental company Tat Hong Holdings jumped as much as 20 percent to S$0.485 after the shares resumed trading on Friday.

Tat Hong Holdings
Tat Hong Holdings

Crane rental company Tat Hong Holdings jumped as much as 20 percent to S$0.485 after the shares resumed trading on Friday.

Nearly nine million shares changed hands during the early session, a significant jump from the three million shares traded before the trading halt was requested at 3.18pm on Thursday.

The trading halt was requested after the Singapore-based company said it has been approached by certain parties on a potential transaction.

"The discussions are ongoing and there is no certainty or assurance whatsoever that any transaction will arise from these discussions," Tat Hong Holdings said in a statement on Thursday.

The company has appointed Rippledot Capital Advisers as its financial adviser in connection with such approaches, it said.

Shares in Tat Hong Holdings have jumped about 40 percent so far this year, giving it a market capitalisation of S$346 million.

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