JES International shares soar after releasing bullish report on target acquisition
SHARES in loss-making Chinese shipbuilder JES International rose strongly on Tuesday after the firm released a bullish report on a mining company that it is buying a stake in.
JES shares were trading at 16.1 cents shortly after 1pm - a gain of 1.8 cents or 12.6 per cent on turnover of about 93.2 million shares.
Trading had resumed just before noon after a halt had been called ahead of the announcement.
The good news involves JES unit Mineriver, which holds mineral exploration rights for about 21.5 sq km in Tacheng City, which is in China's Xinjiang Uygur autonomous region.