KUALA LUMPUR (March 27): The share price of Supercomnet Technologies Bhd, which rallied on Monday on speculation of a takeover, reversed its course on Tuesday and emerged as one of the top losers.
Its share price fell to a low of 33.5 sen, down 16 sen from Monday’s close of 49.5 sen.
At 12.30pm, it was down 11 sen to 38.5 sen with 57.25 million shares done.
The FBM KLCI rose 5.2 points to 1,588.18. Turnover was 1.09 billion shares valued at RM726.23 million. There were 311 gainers, 334 losers and 333 stocks unchanged.
On Monday, the share price jumped 19.5 sen to 49.5 sen in heavy trade. Its unusual market activity prompted a query from Bursa Malaysia Securities.
The company, responding to the query after market close, said its major shareholder and director Wu Chung-Jung had entered into an agreement with Mohd Nazifuddin Mohd Najib on March 25.
Wu, who was acting on behalf of several shareholders, had signed the agreement to give Nazifuddin an option to purchase 45.35 million shares of 10 sen each at 22.5 sen, representing 18.66% of the paid-up.
Its share price fell to a low of 33.5 sen, down 16 sen from Monday’s close of 49.5 sen.
At 12.30pm, it was down 11 sen to 38.5 sen with 57.25 million shares done.
The FBM KLCI rose 5.2 points to 1,588.18. Turnover was 1.09 billion shares valued at RM726.23 million. There were 311 gainers, 334 losers and 333 stocks unchanged.
On Monday, the share price jumped 19.5 sen to 49.5 sen in heavy trade. Its unusual market activity prompted a query from Bursa Malaysia Securities.
The company, responding to the query after market close, said its major shareholder and director Wu Chung-Jung had entered into an agreement with Mohd Nazifuddin Mohd Najib on March 25.
Wu, who was acting on behalf of several shareholders, had signed the agreement to give Nazifuddin an option to purchase 45.35 million shares of 10 sen each at 22.5 sen, representing 18.66% of the paid-up.
