Prospera Global Launches New Business, Shuts Down Hostel Operations; Shares Surge 14%

MT Newswires

07/11

Prospera Global (SGX:5HH) started the operations of a new business by its Mauritius-based subsidiary, PGL Capital, while shutting down its hostel operations by G4 Station, according to a late Thursday filing with the Singapore Exchange.

Shares of the company surged over 14% in recent trading.

PGL Capital was granted permission by the Financial Services Commission of Mauritius to conduct financial services business. The company has already onboarded two institutional clients.

Meanwhile, the board has decided not to renew tenancy of the G4 Station hostel in Singapore due to structural and interior fitting issues and the financial performance since the hostel has been operating at a loss over multiple years.

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