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NewsShares of Pelikan and CSL down after deal called off
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Shares of Pelikan and CSL down after deal called off
by Cals Thu 05 Sep 2013, 01:29
Published: Wednesday September 4, 2013 MYT 4:06:00 PM
Updated: Wednesday September 4, 2013 MYT 4:39:34 PM
Shares of Pelikan and CSL down after deal called off
KUALA LUMPUR: Shares of Pelikan International Corporation Bhd and China Stationery Ltd (CSL) fell on Wednesday on reports that the merger was off.
At 3.58pm, Pelikan was down 5.5 sen to 44.5 sen with 34.83 million shares traded between 43 sen and 49.5 sen.
CSL shed half a sen to 23 sen with 57.2 million shares done between 22.5 sen and 23 sen.
Both counters were among the heaviest traded at Bursa Malaysia on Wednesday.
The FBM KLCI was down 6.84 points to 1,717.37. Turnover was 1.19 billion valued at RM1.26bil. There were 221 gainers, 450 decliners while 272 stocks were unchanged.
Reports said “the two main reasons why the relationship ended were due to cultural differences between the two companies, and differences of opinion over the pricing strategy”.
Updated: Wednesday September 4, 2013 MYT 4:39:34 PM
Shares of Pelikan and CSL down after deal called off
KUALA LUMPUR: Shares of Pelikan International Corporation Bhd and China Stationery Ltd (CSL) fell on Wednesday on reports that the merger was off.
At 3.58pm, Pelikan was down 5.5 sen to 44.5 sen with 34.83 million shares traded between 43 sen and 49.5 sen.
CSL shed half a sen to 23 sen with 57.2 million shares done between 22.5 sen and 23 sen.
Both counters were among the heaviest traded at Bursa Malaysia on Wednesday.
The FBM KLCI was down 6.84 points to 1,717.37. Turnover was 1.19 billion valued at RM1.26bil. There were 221 gainers, 450 decliners while 272 stocks were unchanged.
Reports said “the two main reasons why the relationship ended were due to cultural differences between the two companies, and differences of opinion over the pricing strategy”.
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