Grand Banks Yachts (SGX:G50) through its subsidiary, Palm Beach Motor Yachts, acquired an offshore racing yacht, a 100-foot Supermaxi Wild Oats XI, according to a Friday filing with the Singapore Exchange.
The yacht, which will be renamed Palm Beach XI, is a nine-time Rolex Sydney Hobart line-honors winner.
Shares of the company were up over 6% at the close of trading on Friday.
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