Trade in Blumont, LionGold, Asiasons to resume Monday

TRADING in Singapore-listed Blumont Group, LionGold and Asiasons Capital will resume on Monday, the Singapore Exchange (SGX) said on Sunday.

The stocks, however, will become "designated securities" and subject to various restrictions, the exchange said. Under Singapore rules, the SGX may declare a listed or quoted security to be a "designated security" if it thinks there has been manipulation of the security or excessive speculation.

The Singapore bourse operator suspended trading in the three companies after a plunge in their share prices on Friday morning. Blumont saw its shares slump 56 per cent in less than one hour.

The SGX said traders will be barred from short-selling the shares of Blumont, which has diversified businesses, gold miner LionGold or investment firm Asiasons. Those buying the shares will have to make cash payments when their orders are executed, the SGX added.

It said it "will continue to monitor the trading of these designated securities and review the circumstances in due course".