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KTB shares down 12% after corporate exercises announcement
by Cals Tue 23 Sep 2014, 01:41
| KTB shares down 12% after corporate exercises announcement |
| Business & Markets 2014 |
| Written by Tarani Palani of theedgemalaysia.com |
| Monday, 22 September 2014 15:40 KUALA LUMPUR (September 22): Konsortium Transnasional Bhd (KTB) shares were down 12.2% in mid-day trades before settling at 0.46 sen around 2.30pm today, with some 20.8 million shares traded. The bus operator announced last Friday it would undertake a capital reduction exercise to wipe its accumulated losses of RM148.63 mill as of Dec 31, 2013. The company also announced that it plans to raise RM60.42 million by issuing 604.2 million renounceable rights shares of three rights shares for every two existing shares. Almost all the proceeds from the rights shares will be used as KTB's working capital. |
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