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Hot Stock Yinson rises after EPF ups stake
by Cals Fri 10 Jul 2015, 00:42
Hot Stock
Yinson rises after EPF ups stake
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By Sangeetha Amarthalingam / theedgemarkets.com | July 9, 2015 : 12:15 PM MYT
KUALA LUMPUR (July 9): [size=14]Yinson Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose as much as 10 sen or 3.4%, following the reemergence of the Employees Provident Fund (EPF) as a substantial shareholder in the logistics and oil and gas support services provider.
Yinson (valuation: 1.5; fundamental: 1.5) rose to its highest so far today at RM3.04. At 11:22am, Yinson pared gains at RM3.02, with 99,300 shares done.
At 12:04pm, the stock was traded at RM3.01.
On Tuesday (July 7), Yinson said in a statement that the EPF became a major shareholder, after buying 60 million Yinson shares at RM2.83 each under a private placement of new shares.
Following the purchase, the EPF’s stake rose from 4.9% to 10.13%, according to Yinson.
In a separate statement to the exchange on that day, Yinson said the private placement of 103.28 million new shares had expanded its issued base to 1.09 billion shares.
Today, Yinson's current share price of RM3.01 translated into a market capitalisation of RM3.28 billion, based on the expanded share base.
The EPF had re-emerged as a major shareholder in Yinson, following an earlier announcement by Yinson that the EPF ceased to be a substantial shareholder last June 30, after selling 1.11 million shares.
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Yinson rises after EPF ups stake
[You must be registered and logged in to see this image.]
By Sangeetha Amarthalingam / theedgemarkets.com | July 9, 2015 : 12:15 PM MYT
KUALA LUMPUR (July 9): [size=14]Yinson Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose as much as 10 sen or 3.4%, following the reemergence of the Employees Provident Fund (EPF) as a substantial shareholder in the logistics and oil and gas support services provider.
Yinson (valuation: 1.5; fundamental: 1.5) rose to its highest so far today at RM3.04. At 11:22am, Yinson pared gains at RM3.02, with 99,300 shares done.
At 12:04pm, the stock was traded at RM3.01.
On Tuesday (July 7), Yinson said in a statement that the EPF became a major shareholder, after buying 60 million Yinson shares at RM2.83 each under a private placement of new shares.
Following the purchase, the EPF’s stake rose from 4.9% to 10.13%, according to Yinson.
In a separate statement to the exchange on that day, Yinson said the private placement of 103.28 million new shares had expanded its issued base to 1.09 billion shares.
Today, Yinson's current share price of RM3.01 translated into a market capitalisation of RM3.28 billion, based on the expanded share base.
The EPF had re-emerged as a major shareholder in Yinson, following an earlier announcement by Yinson that the EPF ceased to be a substantial shareholder last June 30, after selling 1.11 million shares.
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