Blumont, Asiasons plunge after trading resumes; firms request trading halts
Shares in Blumont Group and Asiasons Capital plummeted on Monday morning after the Singapore Exchange (SGX) lifted their trading halts on Sunday.
Blumont Group fell some 87 per cent at one point to hit a low of 11.5 cents, before clawing back some gains. As at 10.50am, the counter was trading at 29 cents, down 67 per cent.
Asiasons tumbled 87 per cent at its open to 10.2 cents, but also regained some value to 22 cents as at 10.50am.
Both companies requested trading halts. In a statement, Blumont said the company had had insufficient time to address shareholders given that the counter was suspended from trading on Friday and had the suspension lifted on Sunday.