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Hot Stock Sumatec, warrant active after new issuance
by Cals Fri 22 Nov 2013, 22:36
| Hot Stock Sumatec, warrant active after new issuance |
| Business & Markets 2013 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Friday, 22 November 2013 15:35 |
At 3.03 pm, shares of the PN17 company rose 4 sen or 15%, to trade at 30.5 sen. The top most active counter saw trades of some 119 million shares.
Rising in tandem as the second top active counter, was its warrant. It rose 5 sen or 27% to 23.5 sen, on trades of some 90 million units.
In a note today, Kenanga Research said Sumatec — which has been a speculative stock — would see immediate support and resistance levels at 25 sen and 31 sen respectively.
Bursa Malaysia said yesterday, Sumatec’s additional issuance of some 2.9 billion new ordinary shares of 14 sen was granted listing and quotation.
The additional shares were issued pursuant to the issuance of share, rights issue with warrants and the scheme of arrangement with creditors.
It said Sumatec’s additional issuance of some 11.6 million warrants, was also granted listing and quotation.
The warrants were issued arising from the adjustment in accordance with the provisions of the deed poll dated Oct 8, 2010.
The stock exchange added that Sumatec’s warrants of some 568 million units, would be admitted to the official list of Bursa Malaysia Securities Bhd.
Cals- Administrator
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