Ascendant shares up 31% in three weeks

  • Ascendant shares climbed to their highest level since August 2008 in BSX trading

    Ascendant shares climbed to their highest level since August 2008 in BSX trading

Shares of Ascendant Group Ltd gained another dollar in Bermuda Stock Exchange trading, taking their gain over the past three weeks to more than 31 per cent.

The owner of power utility Belco added 4.8 per cent to close at $22 on the trading of 7,100 shares. The stock has not traded at that level since April 2008.

In late January, Ascendant announced it was “evaluating strategic options” including a potential sale of the company. Since then the stock has taken off.

Butterfield Bank also traded and remained on $35 as 3,000 shares changed hands. The bank’s US-listed shares fell 53 cents, or 1.5 per cent, to close at $35.14 on the New York Stock Exchange.

One Communications Ltd remained on $3 as 3,000 shares traded.

The Royal Gazette/BSX Index gained 9.65 points, or 0.44 per cent, to close on 2,194.83.

Trading volume amounted to 13,100 shares and turnover totalled $261,500.

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Published Feb 15, 2019 at 8:00 am (Updated Feb 15, 2019 at 8:19 am)

Ascendant shares up 31% in three weeks

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