1:28 PM
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Shares of SingXpress Land Ltd jumped to a near
11-month high of S$0.022 after the property and financial
services company announced plans to raise S$226.5 million
($181.30 million) for its venture into the U.S. property market.
The shares rose as much as 29.4 percent, with 281 million
shares traded, 6.2 times the average full-day volume over the
past 30 days.
SingXpress, which will be renamed SingHaiyi Group, will
appoint Neil Bush, the brother of former U.S. president George W
Bush, as chairman of the company.
"The appointment of Neil Bush is quite reassuring to the
investors," a trader said, adding the announcement was a "game
changer" for SingXpress.
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