Thursday 27 October 2011

Hibiscus jumps on stake acquisition

Hibiscus Petroleum Bhd rose to a record in Kuala Lumpur trading after it agreed to buy a 35-percent stake in Lime Petroleum Plc for US$55 million.

The stock climbed 2.2 percent to 69 sen as of the midday trading break in Kuala Lumpur, set to close at its highest level since its debut on July 25. -- Bloomberg
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