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VibroPower Grants Option to Sell Tuas Property for SG$3.9 Million; Shares Zoom 27%

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VibroPower (SGX:BJD) has granted an option to purchase its Tuas Avenue 16 industrial property to Ecorecycling for SG$3.9 million, according to a Friday filing with the Singapore Exchange.

Shares of the electric services company surged over 27% in Monday trading.

The disposal of the 3,500 square meters industrial property exceeds the company's entire market capitalization of nearly SG$3 million.

Meanwhile, proceeds from the disposal will be used for working capital and debt repayment. The additional working capital is expected to support the execution of its SG$35 million order book.

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