Financial Wire

Ascent Bridge Completes Partial Disposal of Shares in Unit; Shares Surge 18%

-- Ascent Bridge (SGX:AWG) completed the transfer of 30% of its shares in MTBL Cultural Centre to Nyonya Heritage, according to a Thursday filing with the Singapore Exchange.

Shares of the liquor and beverage company surged over 18% in Friday trading.

The partial disposal is part of MTBL Global's agreement with Nyonya Heritage to sell its shares in MTBL Cultural Centre to the latter for SG$59,533.

Under the agreement, Nyonya will transfer its 30% of the sale shares back to MTBL Global if the full disposal is not concluded by May 31.

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