Hot Stock Tiger Synergy jumps 5.56% on rights issue
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Hot Stock Tiger Synergy jumps 5.56% on rights issue
- Hot Stock
[size=28]Tiger Synergy jumps 5.56% on rights issue
By Chen Shaua Fui / theedgemarkets.com | January 4, 2016 : 10:52 AM MYTKUALA LUMPUR (Jan 4): Tiger Synergy Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 1.00) rose as much as 0.5 sen or 5.56% to 9.5 sen, after the group announced its rights issue on last Friday.
The property developer saw 12.3 million shares changing hands as at 10.20am. It was also the seventh top active counter in the local bourse today.
On Dec 31, 2015, Tiger Synergy announced it was going to issue renounceable rights issue of up to 2.39 billion new ordinary shares of RM0.08 each, on the basis of two rights shares for every one existing Tiger Synergy share held as at 5.00 p.m. on Jan 15, 2016 at an issue price of RM0.08 per rights share.
This is together with up to 957.37 million free detachable warrants and an attached bonus issue of up to 478.68 million new tiger shares, on the basis of two warrants and one bonus share for every five rights shares subscribed for.
The ex-date on the rights issue is on Jan 13.
(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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