NOL shares jump 3% on news of potential logistics unit sale

Exterior of Neptune Orient Lines. Following media reports on Wednesday that Neptune Orient Lines (NOL) is planning to sell its logistics business, the Singapore-listed shipping company said such considerations are "preliminary and exploratory in
Exterior of Neptune Orient Lines. Following media reports on Wednesday that Neptune Orient Lines (NOL) is planning to sell its logistics business, the Singapore-listed shipping company said such considerations are "preliminary and exploratory in nature". -- PHOTO: THE BUSINESS TIMES FILE

SINGAPORE (Reuters) - Shares in Singapore's Neptune Orient Lines jumped 3 per cent on Wednesday to $1.01, their highest level in more than three months, on news that it is considering selling its logistics unit.

Reuters reported earlier that NOL, a shipping and logistics company in which Singapore's state investor Temasek Holdings owns a 67 per cent stake, is hoping to sell its logistics business for more than US$750 million (S$935 million).