Lion Corp, a Malaysian steel producer and builder, fell the most in almost four months in Kuala Lumpur trading after saying it may issue new shares to raise RM950 million to settle debt owed by its 79 percent-owned Megasteel Sdn Bhd subsidiary.
The stock fell 7.9 percent to 17.5 sen at 9:03 a.m. local time, set for its biggest decline since Aug. 8.
It also plans a one-for-five share consolidation, the company said in a statement. -- Bloomberg
The stock fell 7.9 percent to 17.5 sen at 9:03 a.m. local time, set for its biggest decline since Aug. 8.
It also plans a one-for-five share consolidation, the company said in a statement. -- Bloomberg
