Ezra Surges to 8-Month High on Speculation of Possible Takeover

Singapore shares were slightly lower on Friday, but oil and gas services provider Ezra Holdings Ltd surged to an eight-month high on market speculation about a possible takeover.

The Straits Times Index was down 0.1 percent at 3,117.78 points, while MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.8 percent.

Ezra shares jumped as much as 19 percent to S$1.26, the highest since Jan. 15. More than 65 million shares were traded, 15 times the average full-day volume over the past 30 days. It was the top traded stock by value in Singapore.

“The company regularly explores and reviews business opportunities, projects and proposals relating to the subsea business and enters into discussions with various parties from time to time,” Ezra said earlier this week, in response to a query from the Singapore Exchange about the surge in its share price.

Shares of Singapore Windsor Holdings Ltd jumped as much as 28 percent after it said Ho Kwok Wai, director of investment firm Conscendo Capital, plans to make a cash offer of S$0.18 per share for all the shares he did not already own.

The company makes moulds and provides services in the printed circuit board business.

(c) 2013 Thomson Reuters

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