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Profit taking picks up in MSM
by hlk Wed 29 Jun 2011, 18:34
KUALA LUMPUR: Shares of MSM Holdings Bhd fell in late afternoon on Wednesday, June 29, as profit taking picked up pace in heavy trade in the company which made headlines in its trading debut on Tuesday.
As at 3.18pm, it was down 16 sen to RM4.73 with more than 13 million transacted. However, it is still up by a commendable RM1.23 from the institutional price of RM3.50.
The FBM KLCI was up 1.92 points to 1,571.94. Turnover was 710.83 million shares valued at RM953.98 million. There were 352 gainers, 310 losers and 326 stocks unchanged.
MSM, which made its trading debut on Tuesday, surged RM1.39 or 39.7% to close at RM4.89 with 101.92 million shares.
MSM’s institutional price was fixed at RM3.50 and for retail investors at RM3.38 per share after the book-building exercise.
AmResearch has valued MSM at RM4.53 per share while RHB Research Institute had accorded a fair value of RM4.90 to the shares.
As at 3.18pm, it was down 16 sen to RM4.73 with more than 13 million transacted. However, it is still up by a commendable RM1.23 from the institutional price of RM3.50.
The FBM KLCI was up 1.92 points to 1,571.94. Turnover was 710.83 million shares valued at RM953.98 million. There were 352 gainers, 310 losers and 326 stocks unchanged.
MSM, which made its trading debut on Tuesday, surged RM1.39 or 39.7% to close at RM4.89 with 101.92 million shares.
MSM’s institutional price was fixed at RM3.50 and for retail investors at RM3.38 per share after the book-building exercise.
AmResearch has valued MSM at RM4.53 per share while RHB Research Institute had accorded a fair value of RM4.90 to the shares.
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