Other active stocks included AEM Holdings which shot up 5.26 per cent, or nine cents to S$1.80. This comes after DBS Group Research on Friday said it has initiated coverage on the company with a. The target price represents a 39 per cent upside from the counter's close of S$1.71 on Nov 28.
Meanwhile, Thai Beverage jumped 4.05 per cent, or 3.5 Singapore cents to 90 cents on a cum-dividend basis. Some 24 million shares changed hands, prompting a query from the Singapore Exchange regarding its"unusual volume movements". Thai Bev is considering an initial public offering of its brewery business in what could be the largest listing in Singapore in close to a decade, according to a Bloomberg report on Friday, citing people with knowledge of the matter.
"The acquisitive drinks maker controlled by Thailand's richest man is speaking with potential advisers about the listing, and may seek to value the unit at as much as US$10 billion," Bloomberg reported.
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