Bursa Alert
Global Market
NewsSunway falls on debut after property merger
Page 1 of 1
Sunway falls on debut after property merger
by hlk Tue 23 Aug 2011, 13:58
Sunway Bhd fell on its debut on the Kuala Lumpur stock exchange after acquiring and merging two property and construction companies.
The stock slid to RM2.64 at 9:05 a.m. local time, lower than the reference price of RM2.80.
Sunway bought Sunway Holdings Bhd and Sunway City Bhd by offering cash and new shares at RM2.80 each.
The share slump on its debut is due mainly to the “global situation,” executive chairman Jeffrey Cheah told reporters in Kuala Lumpur today.
“We are quite happy with our share price given the circumstances,” he said.
“Markets go up and down. We are not worried too much.” -- Bloomberg
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» Sunway and SunCity get shareholders nod for merger
» IPO F&B SPAC Red Sena falls on debut
» Sunway REIT 1Q property income rises 5.8% to RM77m
» Sunway enjoys solid property sales in 1HFY14
» No property bubble in M'sia; Sunway chairman says local prices affordable
» IPO F&B SPAC Red Sena falls on debut
» Sunway REIT 1Q property income rises 5.8% to RM77m
» Sunway enjoys solid property sales in 1HFY14
» No property bubble in M'sia; Sunway chairman says local prices affordable
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|