Ascendant shares plunge 20%
Updated: Mar 12, 2014 08:29 PM
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.