Axington shares rise after Dorr's cash offer, briefly push past offer price

SHARES in Catalist-listed Axington Inc, formerly known as Axcelasia, rose as high as 21.5 Singapore cents on Tuesday morning, above Dorr Global Healthcare International's offer price of 20.8 cents, on the back of increased volume.plans to make an unconditional cash offerDorr is offering 20.8 cents in cash for each share, in a deal that values the company at S$33.3 million. The offer price is final and Dorr does not intend to revise the offer price, it said.

As at 11.30am on Tuesday, shares in Axington were trading at 21 cents, up 44.8 per cent or 6.5 cents, surpassing its 52-week high of 19 cents. Some 110.2 million shares changed hands, making it the most active stock on the Singapore bourse in the early session of trading.

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