The company will be added to STI’s reserve list, comprising the five highest-ranking non-constituents of the index by market capitalisation
[SINGAPORE] Shares of Yangzijiang Financial hit an all-time high on Friday (Sep 12) morning.
The stock climbed to S$1.17 at 9.43 am, with some 24.8 million shares transacted. This was 8.3 per cent or S$0.09 higher than its closing price of S$1.08 on Thursday.
ShareInvestor data showed this was also the highest price Yangzijiang Financial shares have reached since it was spun off from Chinese vessel-maker Yangzijiang Shipbuilding in April 2022.
The counter eventually ended Friday at S$1.16, up by 7.4 per cent or S$0.08, with around 47.8 million shares changing hands. It was the fourth-most actively traded counter on the Singapore Exchange for the day.
Yangzijiang Financial will be added to the Straits Times Index’s reserve list from Sep 22. This list comprises the five highest-ranking non-constituents of the index by market capitalisation.
Its market cap stood at S$3.76 billion as at Thursday, SGX data indicated.
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The company in August recorded a 28 per cent rise in its first-half net profit, which stood at S$137.7 million, compared with S$107.4 million in the year-ago period.
In April, it said it was mulling a spin-off of its maritime investment segment into a newly incorporated entity with a separate listing on the SGX mainboard.
Yangzijiang Financial’s principal businesses comprise investment management and debt investment.
