Singapore SGX Stock Market- Morning Updates!

>>Singapore Shares open lower:

• Singapore share prices opened lower on Monday with the Straits Times Index down 16.31 points to 2,999.22.

• Volume was 145.9 million shares worth S$87.1 million.

• Losers outnumbered gainers 118 to 46.

>>Stock News- JB Foods jumps 40 pct above IPO price:

• Shares of JB Foods Ltd, a Malaysian cocoa ingredient producer, surged 40% above the IPO price of S$0.30 on their trading debut in Singapore.

• JB Foods shares leapt as high as S$0.42 on volume of more than 130 million shares. The stock was the top traded by both value and volume in the overall Singapore market. The FT ST Small Cap Index was down 0.5%.

• JB Foods sold 100 million shares, comprising 84 million new shares, at S$0.30 each.

>>Singapore's APB shares jump 17% on Heineken bid:

• Shares of Asia Pacific Breweries Ltd (APB) jumped on Monday after Heineken NV launched a bid worth up to S$7.5 billion (US$6 billion) for the Singapore maker of Tiger Beer.

• APB shares were up 17% at S$49.00, still below Heineken's offer price of S$50.00.

• Shares of Fraser and Neave Ltd were up more than 5%.

>>INDIA PRESS-Tata Chem plans S'pore holding co for overseas assets:

• TCS, Infosys, Cognizant in race to buy Lodestone.

• L&T, Pipavav sign 2 separate JVs with Mazagon Dock.

• Huawei rules out mobile handset factory in India for now.

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