The company says the purchase could present a new growth opportunity in the building and construction industry
SHARES of OKH Global surged on Thursday (Dec 5) after the group announced that it plans to acquire construction company Chip Eng Seng for about S$118.5 million.
The counter rose 38.9 per cent or S$0.007 to S$0.025 when the market opened. Some 7.8 million shares were transacted at that time.
The share price later eased to S$0.021, still up 16.7 per cent or S$0.003 before the midday trading break. By 2.41 pm, shares of OKH were trading 22.2 per cent or S$0.004 higher at S$0.022, with 38.1 million securities changing hands.
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