KUALA LUMPUR (Jan 6): CAN-ONE BHD []’s share price surged for the second day on Friday despite the company’s statement to Bursa Malaysia it was unaware of the reasons for the unusual market activity (UMA).
At 3.33pm, it was up 28 sen to RM1.65 but off the high of RM1.78. Volume was 12.54 million shares done.
Meanwhile, the FBM KLCI was down 4.72 points to 1,509.71. Turnover was 1.05 billion shares valued at RM851.78 million. The broader market was weaker, with 399 losers to 297 gainers and 290 stocks unchanged.
Concerns were whether there were any fundamental reasons for Bob-Pak’s price surge despite the company’s recent statement there was no privatisation exercise.
On Thursday, the share price had jumped 31 sen to close at RM1.37 prompting a query from Bursa Malaysia Securities about the UMA.
However, Can-One replied there were no corporate developments relating to the group’s business and affairs that had not been previously announced that may account for the UMA.
At the current price of RM1.65, the share price was 31.2 sen above the net asset of RM1.348 as at Dec 31, 2011.
At 3.33pm, it was up 28 sen to RM1.65 but off the high of RM1.78. Volume was 12.54 million shares done.
Meanwhile, the FBM KLCI was down 4.72 points to 1,509.71. Turnover was 1.05 billion shares valued at RM851.78 million. The broader market was weaker, with 399 losers to 297 gainers and 290 stocks unchanged.
Concerns were whether there were any fundamental reasons for Bob-Pak’s price surge despite the company’s recent statement there was no privatisation exercise.
On Thursday, the share price had jumped 31 sen to close at RM1.37 prompting a query from Bursa Malaysia Securities about the UMA.
However, Can-One replied there were no corporate developments relating to the group’s business and affairs that had not been previously announced that may account for the UMA.
At the current price of RM1.65, the share price was 31.2 sen above the net asset of RM1.348 as at Dec 31, 2011.
