Log In

Reset Password

Ascendant shares plunge 20%

Shares of Ascendant Group Ltd plunged 20 percent in Bermuda Stock Exchange (BSX) trading.

The owner of electricity company Belco saw its shares close at $8 — down by $2. The massive move knocked more than $20 million off the company's market capitalisation, although it occurred through the trading of 1,742 shares — worth only $13,936 at yesterday's closing price.

Butterfield Bank remained unchanged on $2, although its shares were active, with 41,436 changing hands.

KeyTech Ltd was also unchanged on $5.40 after 9,200 of its shares traded.

The Royal Gazette/BSX Index closed on 1,403.38, down by 17.33 points, or 1.22 percent.

Volume topped 52,400 shares and turnover totalled more than $147,000.

You must be Registered or to post comment or to vote.

Published March 12, 2014 at 9:29 pm (Updated March 12, 2014 at 9:29 pm)

Ascendant shares plunge 20%

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon