SHARES of mainboard-listed Yangzijiang Shipbuilding rose as much as 7 per cent during the morning trading session on Tuesday (Jul 16), after the company announced plans to build a clean-energy ship manufacturing base on a piece of land in China it acquired.
The counter reached a high of S$2.46 as at midday trading on Tuesday, up S$0.16. It was among the top most traded by volume on the Singapore bourse at the time, with 22.9 million shares changing hands.
The heavy trading came after the group announced on Monday that it entered into a framework agreement with the local government of Jingjiang in China’s Jiangsu province to acquire land for the establishment of a new clean-energy ship manufacturing base.
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