Today, while checking for the performance of my stock portfolio, I noticed that one particular stock that I am holding for long term (Super Group - S10) has jumped by close to 5%, at the time of writing (last traded at $1.215). So, naturally I am interested to find out the cause(s).
After quick check at SGX's website, found the cause! Apparently Super Group has recently announced that they are selling their property at Chin Bee Cresent for an handsome sum of $8 millions. Click here to see more details.
With the sale, there is positive financial effect to the book of Super Group in terms of their Net Tangible Assets (41.60 cents to 41.95 cents per share) and Earnings Per Share (from 8.96 cents to 9.32 cents).
This is at the backdrop of their recent additional investment in their subsidiaries, Super Continental Pte Ltd ......