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Catalist-listed St James' shares jump on reverse takeover news

Published on Mar 17, 2014 1:57 PM

Shares of Catalist-listed St James Holdings shot up on Monday morning after an announcement on Friday last week that real estate developer Perennial Real Estate Holdings was staging a $1.56 billion reverse takeover of the entertainment operator.

St James' shares jumped 27 per cent, or 1.5 cents, to 6.9 cents by 1pm.

Perennial is the sponsor of mainboard-listed Perennial China Retail Trust, which also saw a slight boost to its price.

The trust's unit price had risen one cent to 55.5 cents by 1pm on Monday, a 2 per cent increase.

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