Nam Cheong Transfers Shares of Subsidiary to Treasury Shares; Shares Up 4%

MT Newswires

02/03

Nam Cheong (SGX:1MZ) transferred around 1.1 million shares in one of its subsidiaries to treasury shares, according to a Monday filing with the Singapore Exchange.

Shares of the provider of Offshore Support Vessels (OSV) were up nearly 4% in Tuesday trading.

The share transfer is part of the company's strategy to enhance efficiency and streamline its administration.

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