Hot Stock: Oceanus Up 5% Following Application to Exit SGX Watch-List

Hot Stock: Oceanus Up 5% Following Application to Exit SGX Watch-List

SHARES of mainboard-listed Oceanus Group saw brisk trading on Tuesday, making it the third-most active counter by volume on the Singapore Exchange (SGX).

The counter hit an intraday high of 4.4 Singapore cents. As at the midday break, it was 5 per cent or 0.2 cent higher at 4.2 cents, with 87.7 million shares changing hands. The counter was the fourth-most traded at the time.

According to Shareinvestor data, no married deals were recorded as at that time.

The active trading came after the seafood supplier submitted an exchange filing requesting to exit the SGX watch-list.

Oceanus, which has been on the SGX watch-list since 2015, has been granted four extensions to date to exit the watch-list. It was granted a fourth extension lasting 19 months until March 1 this year, with effect from the expiry of the third extension on July 31, 2019.

An issuer on the watch-list may apply to be removed from it if it records consolidated pre-tax profit for the most recently completed financial year (based on audited full-year consolidated accounts), and has an average daily market cap of S$40 million or more over the last six months.

 

Read more here: https://www.businesstimes.com.sg/companies-markets/hot-stock-oceanus-up-5-following-application-to-exit-sgx-watch-list