Singapore

Fruit distributor SunMoon: Shares slump due to parent's bankruptcy troubles

Share prices from the Sunmoon Food Company tumbled on Monday after the mainboard-listed fruit and seafood distributor announced its parent had been placed under voluntary bankruptcy reorganisation in China more than two months ago.

The counter lost 0.7 Singapore cent or 17.5 per cent to trade at 3.3 cents as at the midday break. About 10.3 million shares changed hands, making it one of the most actively traded stocks for the morning. SunMoon called for a trading halt at 1.41pm. Its shares fell further to 3.1 cents by then, down 22.5 per cent, on nearly 16 million shares traded.

Source: businesstimes.com.sg


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