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UMA FGV gets UMA query on share price surge

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UMA FGV gets UMA query on share price surge

Post by Cals Tue 15 Sep 2015, 01:25

UMA

[size=28]FGV gets UMA query on share price surge

By Cynthia Blemin / theedgemarkets.com | September 14, 2015 : 7:14 PM MYT

KUALA LUMPUR, (Sept 14): Felda Global Ventures Holdings Bhd (FGV) ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.15) has been issued an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd ( Valuation: 2.10, Fundamental: 2.30), after the sudden sharp rise in its share price today.

FGV's counter rose as high as 30% to trade at RM1.65 today. The stock has been on a slide since early this year, plunging to its historical low of RM1.19 on Aug 26.

FGV saw a stellar listing debut when its shares rose 19% premium to RM5.39, over its retail offering price of RM4.55. It closed at RM5.30 on the first day of listing on June 28, 2012.

Meanwhile, in the UMA query today, Bursa had requested FGV to disclose any corporate development, rumour or report concerning the business and affairs of the group, and any other possible reasons for the share price rally.

The stock closed 37 sen or 29.13% higher at RM1.64 today, for a market capitalisation of RM4.6 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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