Ascendant shares gain 10% after bid deadline
Shares of Ascendant Group Ltd surged 10 per cent in heavy Bermuda Stock Exchange trading — just two days after a deadline for bids to take over the company.
The owner of electricity utility Belco gained $2 to close on $22, as 68,840 shares changed hands.
A source informed The Royal Gazette that Monday of this week was the deadline for bids for the company, as the company explores a potential sale. Ascendant has so far declined to comment on the bidding process.
Shares of Butterfield Bank also had a positive day, gaining $1, or 3 per cent, to close on $34 as 300 shares changed hands.
Butterfield's US-listed shares climbed 17 cents, or 0.5 per cent, to close on $35.06 on the New York Stock Exchange.
Shares of One Communications traded for the third successive day, remaining unchanged on $3.46 as 2,900 shares traded.
The Government of Bermuda's 4.75 per cent bonds gained $7.50, or 8.3 per cent, to close on $97.50 as eight bonds changed hands.
The Royal Gazette/BSX Index advanced 64.27 points, or 3.1 per cent, to close on 2,139.23.
BSX trading volume totalled 72,040 shares, while turnover topped $1.51 million.
The BSX Insurance Index added 9.71 points, or 0.66 per cent, to close on 1,476.61.

Need to
Know

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