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NewsHot Stock BIMB rises 2.5% on acquisition of Bank Islam stake
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Hot Stock BIMB rises 2.5% on acquisition of Bank Islam stake
by Cals Thu 01 Aug 2013, 12:52
Hot Stock BIMB rises 2.5% on acquisition of Bank Islam stake
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 01 August 2013 11:15
KUALA LUMPUR (August 1 ): BIMB HOLDINGS BHD [] rose as much as 2.5% on the firm's plan to acquire the remaining 49% in Bank Islam Malaysia Bhd from Dubai Financial Group and Lembaga Tabung Haji (LTH). The proposed deal is valued at US$884.6 million (about RM3 billion).
The deal, upon completion, will give BIMB full control of Bank Islam. At 11.03am, BIMB was traded at RM4.11 with 26,500 shares done. The stock had earlier risen as much as 10 sen to RM4.12.
Trading in BIMB shares was suspended between 9am and 10am today to facilitate the announcement of the exercise.
Kenanga Investment Bank Bhd wrote in a note today that BIMB shares' immediate support and resistance are seen at RM4.01 and RM4.12 respectively.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 01 August 2013 11:15
KUALA LUMPUR (August 1 ): BIMB HOLDINGS BHD [] rose as much as 2.5% on the firm's plan to acquire the remaining 49% in Bank Islam Malaysia Bhd from Dubai Financial Group and Lembaga Tabung Haji (LTH). The proposed deal is valued at US$884.6 million (about RM3 billion).
The deal, upon completion, will give BIMB full control of Bank Islam. At 11.03am, BIMB was traded at RM4.11 with 26,500 shares done. The stock had earlier risen as much as 10 sen to RM4.12.
Trading in BIMB shares was suspended between 9am and 10am today to facilitate the announcement of the exercise.
Kenanga Investment Bank Bhd wrote in a note today that BIMB shares' immediate support and resistance are seen at RM4.01 and RM4.12 respectively.
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Similar topics» BNM: No objection to BIMB's proposed acquisition of remaining stake in Bank Islam
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» BIMB to deliberate on Bank Islam stake by end-May
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