Seatrium halts trading of shares ahead of H1 earnings
This is coming one day before it is due to announce its first-half earnings – on Jul 31
[SINGAPORE] Seatrium called for trading of its shares to be halted with immediate effect on Wednesday (Jul 30) morning, before market open.
This is coming one day before it is due to announce its first-half earnings – on Jul 31.
The offshore and marine specialist cited the upcoming release of an announcement as reasons for the trading halt.
Its shares closed at $S2.38 on Tuesday. Year to date, it is up 15 per cent or S$0.31 from its closing price of S$2.07 on Dec 31, 2024.
This follows a marine stock boom in 2024, which led analysts to forecast an optimistic outlook for the sector.
Seatrium was among the marine sector counters listed on the Singapore Exchange that made sizeable gains in 2024, riding on a wave of upcycle orders.
Over 2024, Seatrium’s share price increased by more than 17 times, from the closing price of S$0.118 on the last trading day of 2023.
This year, the group bagged S$21.3 billion worth of contracts in its orderbook for the first quarter ended March.
This comprised 26 projects with delivery dates till 2031, of which nine are scheduled for delivery in 2025, with a contract value of S$387 million.
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