Hot stocks: VCPlus, FJ Benjamin see heavy trading on Tuesday morning

SHARES of fashion distributor FJ Benjamin (FJB) and gold miner VCPlus saw heavy trading on Tuesday morning following separate announcements.

FJB announced on Tuesday morning that it signed an omnichannel solutions agreement with Lazada Singapore. Lazada will operate FJB's LazMall stores and selected online retails stores as well as provide services including management consultation, brand use, software services and more.

The e-commerce player will operate the online retail stores for FJB's Pretty Ballerinas and Superdry brands in October 2021, as well as other brands under FJB's portfolio in 2022.

Shares of FJB hit a two-month high of 3.5 Singapore cents about an hour after the morning trading session started. The counter was up 34.6 per cent or 0.9 Singapore cent by then.

By 10.23am, the counter was were trading 26.9 per cent or 0.7 Singapore cent higher at 3.3 cents, with 56.9 million shares changing hands. It was also the second most traded by volume at the time.

Meanwhile, VCPlus was the fifth most traded by volume as at 10.23am, with 18.8 million shares changing hands. The counter was up 4 per cent or 0.1 Singapore cent to 2.6 cents at the time. Earlier, it hit a high of 2.8 cents during pre-open.

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The counter gained some ground after the gold miner announced on Monday night that it is acquiring technology consultancy firm APEC Solutions for S$5 million, in a bid to further its fintech ambitions.

APEC Solutions' business includes blockchain and fintech solutions development, enterprise software solutions, e-commerce, and digital marketing services.

The proposed acquisition comes after VCPlus in April this year entered into a joint venture with CapitalX Global and five investors to make its first foray into the fintech sector.

No married deals were recorded for both VCPlus and FJ Benjamin, according to ShareInvestor data.