Temasek sale talks possible culprit behind NOL’s share price spike

It has jumped by almost 6% today.

Container shipping company Neptune Orient Lines (NOL) claimed that it does not know the reason behind today’s sharp share price spike, apart from market speculation that it will soon be sold by its controlling shareholder Temasek.

NOL’s shares jumped by as much as 6.8% to 94 cents today, prompting a trading query from the SGX.

In response, NOL claimed that it is not aware of any information that might have driven the surge, and asserted that it is in compliance with listing rules.

In July, it was reported that Temasek is seeking a buyer for the loss-making company, as it is no longer a strategic investment.

Over 19.3 million shares have changed hands by 3:50 pm.