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SingXpress Land Ltd. Jumps To Near 11 Month High

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Publish date: Tue, 12 Mar 2013, 01:28 PM
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Shares of SingXpress Land Ltd jumped to a near 11-month high of S$0.022 after the property and financial services company announced plans to raise S$226.5 million ($181.30 million) for its venture into the U.S. property market.

The shares rose as much as 29.4 percent, with 281 million shares traded, 6.2 times the average full-day volume over the past 30 days.

SingXpress, which will be renamed SingHaiyi Group, will appoint Neil Bush, the brother of former U.S. president George W Bush, as chairman of the company.

"The appointment of Neil Bush is quite reassuring to the investors," a trader said, adding the announcement was a "game changer" for SingXpress.
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