Straits Trading resumes trading on SGX

Shares of investment holding company Straits Trading Co resumed trading on the Singapore Exchange at 2pm on Friday after a temporary suspension.

The shares were suspended from trading after the Lee family, the main shareholder of Oversea-Chinese Banking Corp, improved its offer for Straits Trading to S$6.55 a share from S$5.76, bettering the S$6.50 offered by investment firm Tecity.

Tecity had raised its bid for Straits Trading last month to S$6.50 a share from S$5.70.

Straits Trading shares were already trading above Tecity’s offer as investors bet on a higher bid from the Lee family. The shares closed flat at S$6.55 on Thursday. – CNA/vm

Source : Channel NewsAsia – 15 Feb 2008

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