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Bursa Securities freezes Narra Industries’ upper limit price

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Bursa Securities freezes Narra Industries’ upper limit price

Post by Cals Wed 18 Sep 2013, 20:22

ublished: Wednesday September 18, 2013 MYT 8:33:00 AM
Updated: Wednesday September 18, 2013 MYT 8:35:30 AM
Bursa Securities freezes Narra Industries’ upper limit price

KUALA LUMPUR: Bursa Malaysia Securities has frozen the upper limit share price of Narra Industries Bhd after its share price hit limit-up three times over three trading days.

In a special announcement issued on Wednesday it said the upper limit price would be maintained at RM 1.70 in accordance to Rule 8.13 (5) Trading and and Trading Manual Chapter 5 Trading Status (5.4).

“The upper and lower limit is RM 1.70 and RM 1.19 respectively,” it said.

Last Thursday, Hong Leong Industries Bhd announced it was selling its 100% stake in Hume Industries (Malaysia) Sdn Bhd for RM48mil and preference shares in Hume Cement Sdn Bhd for RM300mil to Narra Industries.

Fund managers viewed the disposal of asset deal between Hong Leong Industries (HLI) and Narra Industries positively, as it would create immense value for both companies, particularly Narra Industries, which will get an immediate earnings boost from the earnings-accretive asset injection.

Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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