Mewah shares surge 15% on M&A talk; CFO says no development
Publish date: Tue, 07 Feb 2012, 04:33 PM
Singapore-listed palm oil firm Mewah International jumped 15% as traders cited mergers and acquisition talk surrounding the company, but Mewah said it is not aware of any corporate development, reported Reuters.
By 3:16 P.M., Mewah shares were up at $0.61, with more than 54 million shares traded, more than six times the average daily volume traded over the past 30 days.
By 3:16 P.M., Mewah shares were up at $0.61, with more than 54 million shares traded, more than six times the average daily volume traded over the past 30 days.
“There is no corporate development that we are aware of,” Mewah Chief Financial Officer Rajesh Chopra told Reuters.
Mewah was among the top traded shares in Singapore by volume.
Labels: Mewah Intl
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