Tuesday, 24 April 2012

Autov up 4% ahead of trading suspension

KUALA LUMPUR (April 24): Autov Corp Bhd shares gained as much as 4% as investors chased the stock ahead of its trading suspension.

Shares of the automotive component manufacturer rose eight sen to RM2.08 before trading lower at RM2.05 at 11.59am.

Trading of Autov shares will be suspended beginning May 7 until the company’s delisting from the exchange to facilitate the capital repayment of RM2.38 a share by the firm, according to Autov.

This follows the takeover offer from Globaltec Formation Bhd, in which, Datuk Goh Tian Chuan is a major shareholder. The ex and entitlement dates for the capital repayment fall on May 9 and 11 respectively, according to Autov.

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