Yangzijiang Financial shares reached an all-time peak on Friday (Sep 12) morning, with the investment management company becoming the most actively traded stock by volume on the Singapore Exchange (SGX).
At 9.43 am, the stock surged 8.3 per cent or S$0.09 from Thursday's closing price of S$1.08 to S$1.17, accompanied by trading activity of approximately 24.8 million shares.
The price represents the highest level achieved by Yangzijiang Financial since it was spun off from Chinese shipbuilder Yangzijiang Shipbuilding in April 2022, according to ShareInvestor data.
By 10.51 am, the stock moderated slightly to S$1.16, maintaining a gain of 7.4 per cent or S$0.08. With nearly 33 million shares traded, it led SGX volume rankings.
Starting September 22, Yangzijiang Financial will join the Straits Times Index reserve list, which includes the five largest non-index constituents ranked by market capitalisation.
The company's market capitalisation reached S$3.76 billion as of Thursday, based on SGX data.
During August, the firm reported a 28 per cent increase in first-half net profit to S$137.7 million, up from S$107.4 million in the corresponding period last year.
In April, the company disclosed it was considering spinning off its maritime investment division into a separate entity for independent listing on the SGX mainboard.
Yangzijiang Financial operates primarily in investment management and debt investment sectors.