Aztech Global Ltd (8AZ.SI) saw its stock price soar by 4.35% during Thursday's trading session, marking a significant uptick for the Singapore-listed technology company. The surge comes amidst news of a substantial property sale by one of its subsidiaries.
According to a company announcement, Huuve, a subsidiary of Aztech Global, has successfully sold a property for RM28.75 million (approximately USD 6.8 million). The transaction, revealed shortly after the market close, appears to have been the catalyst for the stock's impressive performance.
This property sale could have positive implications for Aztech Global's financial position. The substantial sum from the sale may potentially be used to reduce debt, fund new investments, or boost the company's cash reserves. Investors seem to have reacted positively to this development, viewing it as a strategic move that could enhance the company's overall financial health and future growth prospects.
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