Tuesday, 12 January 2010 11:59
Oceanus Group, the world’s largest operator of abalone farms, surged by its daily limit for the second day in Taipei trading after it plans to buy two companies this year and sell shares in its restaurant unit as early as 2012.
The stock jumped 6.9% to NT$13.15 (57.4 cents) as of 11:11 a.m. on the Taiwan Stock Exchange, while trading in Singapore was halted today. The Taiex index fell 0.7%.Oceanus may buy a Taiwan food-packager by mid-2010 and an Australian company later in the year to boost its supply of wild abalones, Chairman Ng Cher Yew said in a Bloomberg interview. Ah Yat Tian Xia, its chain of restaurants, will sell shares in Taiwan or Hong Kong, he said.
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