Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Hot Stock Delloyd rises as high as 7% on privatisation move

Bursa Community :: Community News

Go down

Hot Stock Delloyd rises as high as 7% on privatisation move Empty Hot Stock Delloyd rises as high as 7% on privatisation move

Post by Cals Mon 19 May 2014, 23:59

Hot Stock Delloyd rises as high as 7% on privatisation move
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com   
Monday, 19 May 2014 12:26
.
KUALA LUMPUR (May 19): Delloyd Ventures Bhd shares rose as much as 7% or 30 sen and was among the top gainers on the stock exchange following Friday's announcement that major shareholders had plans to take the company private.

Shares of the company rose to a high of RM4.65 this morning before giving up gains to trade at RM4.59 as of 10:34 am with some365,600 shares done.

Last Friday, the company announced it had received a letter from Chung & Tee Ventures Sdn Bhd, which owns 34.24% of the company, requesting it to undertake a selective capital reduction (SCR) and repayment exercise.

Delloyd Ventures Bhd’s major shareholders who own a cumulative stake of 63.58%, plans to take the company private via selective capital reduction and repayment exercise of RM4.80 a share.

Delloyd was listed among the weekly trading ideas of Maybank Investment Bank which recommended a “short-term buy”

“All its positive signals suggest a very strong daily Wave 3 and 5 uptrend. It is likely to break into higher territory, as it breached its key resistance areas in a very clear upward daily Wave 3 and 5 move,” said Regional Chartist Lee Cheng Hooi, of Maybank Investment Bank

He placed resistances for the stock at RM 4.57, RM4.63 and RM5.08 with a stop loss at RM 3.85. 
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum