Multi Sports trades actively as Permanis CEO takes up substantial stake
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Multi Sports trades actively as Permanis CEO takes up substantial stake
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[size=28]Multi Sports trades actively as Permanis CEO takes up substantial stake
By Supriya Surendran / theedgemarkets.com | September 23, 2015 : 11:36 AM MYTKUALA LUMPUR (Sept 23): China-based sports shoe soles manufacturer Multi Sports Holdings Ltd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 1.30) saw some active trade this morning with 10.7 million of its shares changing hands, on newsPermanis Sdn Bhd’s chief executive officer (CEO) Erwin Selvarajah Peter Selvarajah had become a substantial shareholder in the company.
Permanis is the manufacturer and distributor of the PepsiCo beverage franchise, which includes brands such as Pepsi, Mirinda, 7up, Revive Isotonic, Gatorade, Lipton, Tropicana and Evervess.
According to Multi Sports filing to Bursa Malaysia yesterday (Sept 22), Erwin had purchased 5.85 million Multi Sports shares from the open market on Sept 18, 2015, bringing his total shareholdings in the company to 31.7 million shares, representing a 6.1% stake.
At 10.50 a.m, Multi Sports shares were up by 1 sen or 10.5% to 10.5 sen, with 14.41 million shares traded and a market capitalisation of RM49.2 million.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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