SHARES of Broadway Industrial Group advanced 17.3 per cent on Friday after the market opened, following the company's proposal to dispose of its hard-disk business.
The precision manufacturer's shares jumped to a high of 11.5 Singapore cents as at 9.45am, up 1.7 cents or 17.3 per cent from Thursday's closing price of 9.8 cents. The counter was also the most traded, with 39.3 million shares changing hands as at 9.57am.to dispose of its hard-disk drive business via the sale of its wholly-owned unit BIGL Asia.
In its regulatory filing, Broadway Industrial said the sale consideration will be in cash or equity and will be determined following the buyer's due diligence process. As at 9.58am on Friday, Broadway Industrial shares were trading at 11.4 Singapore cents, up 1.6 cents or 16.3 per cent.