Hot Stock XOX up on 2Q profit, rights share listing

by **Cals** Mon 22 Feb 2016, 23:32

Hot Stock

[size=28]XOX up on 2Q profit, rights share listing

By Danial Idraki / theedgemarkets.com | February 22, 2016 : 4:10 PM MYT

KUALA LUMPUR (Feb 22): Shares of XOX Bhd rose 3% or 0.5 sen after the mobile telecommunication company said its net profit more than quadrupled to RM227,000 in the second quarter ended Dec 31, 2015 (2QFY16) from RM55,000 a year earlier.

At 3.33pm, XOX shares were traded at 16 sen for a market value of RM57 million with some 26 million units transacted. The stock was Bursa Malaysia's eighth most-active entity.

XOX shares have been actively traded after the company listed today an additional 200.41 million new shares and an equal number of free warrants under its rights issue.

XOX warrant (XOX-WA) was the most-active entity. XOX-WA jumped 4.5 sen or 900% to five sen with some 68 million units changing hands. The free warrants were listed at an indicative price of 0.5 sen each.

The company's rights issue involves up to 356 million new shares on the basis of one rights unit for one existing share. The exercise comes with up to 356 million warrants on the basis of one warrant for one rights unit.

LUMPUR (Feb 22): XOX Bhd rose 3% or 0.5 sen after the mobile telecommunication company said net profit more than quadrapled to RM227,000 in the second quarter ended Dec 31, 2015 (2QFY16) from RM55,000 a year earlier.

At 3:33pm, XOX shares were traded at 16 sen for a market value of RM57 million with some 26 million units transacted. The stock was Bursa Malaysia's eighth most-active entity.

XOX shares have been actively traded after the company listed today an additional 200.41 milllion new shares and an equal number of free warrants under its rights issue.

XOX warrant (XOX-WA) was the most-active entity. XOX-WA jumped 4.5 sen or 900% to five sen with some 68 million units changing hands. The free warrants were listed at an indicative 0.5 sen each.

The company's rights issue involves up to 356 million new shares on the basis of one rights unit for one existing share. The exercise comes with up to 356 million warrants on the basis of one warrant for one rights unit.
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