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NOL shares defy gloom.
(From Lloyds List)
Byline: Marcus Hand in Singapore
SHARES in Neptune Orient Lines did not plunge the day after Temasek Holdings' takeover offer closed, as had been widely expected, but soared by as much as 10%.
In trading yesterday NOL's shares rocketed from a low of S$2.76 (US$1.60) to hit S$3.06 at one point although they fell back to close the day 2.2% higher at S$2.82.
The sharp rise defied analysts' expectations that the Singapore ship-ping company's shares would fall after Temasek's S$2.80-a-share offer closed on Wednesday.
With Temasek now owning 69% of NOL lower liquidity in its shares had been expected to ...
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