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United Engineers shares jump on potential investment from Thai tycoon

Published on Aug 21, 2014 11:52 AM
 
Charoen Sirivadhanabhakdi (right), Thai billionaire who controls Thai Beverage (ThaiBev), maker of Thailand’s Chang Beer. United Engineers called for a trading halt on Thursday morning, after its share price surged following reports that the tycoon might buy a stake in the property, engineering and construction group.  -- PHOTO: THE NATION, BANGKOK

SINGAPORE - United Engineers called for a trading halt on Thursday morning, after its share price surged following reports that a Thai tycoon might buy a stake in the property, engineering and construction group.

The counter hit a high of $2.49 in just over two hours of trading, 20 cents above its previous closing price of $2.29 on Wednesday.

This prompted a query from markets regulator Singapore Exchange (SGX) at 10.39am on Thursday.

United Engineers requested an immediate trading halt at 11.13am, pending the release of an announcement. Its shares last changed hands at $2.46.

 
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