Trendlines surges to 10-month high after letter of intent for portfolio company

Singapore

SHARES of The Trendlines Group jumped to a 10-month high on Tuesday after the company said it received a non-binding letter of intent (LOI) for the acquisition of a portfolio company by an unnamed public corporation.

The counter hit an intraday high of 12.2 Singapore cents on Tuesday, up 24.5 per cent or 2.4 cents as at 1.46pm. The last time the startup incubator's shares closed near this level was on May 20, 2020.