Stock News: Vantage sells 3 mln shrs in Thailand's Jack Chia for 69.6 mln baht

Vantage Corp Ltd said it has sold 3.0 mln issued and ordinary shares in Jack Chia Industries (Thailand) Public Co Ltd (JCIT) for 69.6 mln baht ,or 2.9 mln sgd, in cash in the open market. This represents about 22.54 pct of the issued and paid-up share capital of JCIT as of December 31 last year. "The shares were held for investment purposes and the disposal is in line with the company's investment strategy," Vantage said in a statement. Based on the book value of the shares of about 3.5 mln sgd for the financial year ended March, the loss of disposal and loss of sale proceeds of the shares over its book value is about 0.6 mln sgd, Vantage said.