Thursday, 19 April 2012

FSBM trades ex-rights, down 21%

KUALA LUMPUR (April 19) : FSBM HOLDINGS BHD [] shares declined as much as 21% as shares of the information TECHNOLOGY [] firm trade ex-rights on Thursday.

The stock fell 6.5 sen to 25 sen before trading higher at 28 sen at 11.29am with 11,000 shares changing hands.

FSBM is undertaking a renounceable rights issue of up to 60.32 million new shares with an equal number of free new detachable warrants at an issue price of 30 sen per rights unit.

The exercise is undertaken on the basis of one rights share and one warrant for one existing unit held in FSBM. The rights units will start trading on the local exchange next Tuesday.

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