KUALA LUMPUR (April 6 ) : MULPHA LAND BHD [] shares rose as much as 33% during intraday trade on Friday, sending the stock to its highest in about two years.
Shares of Mulpha Land added 15 sen to a high of 61 sen before the stock was transacted lower at 59 sen at 12.15pm.
Regulators had in March this year, granted a six-month extension to Mulpha Land to implement its planned rights issue.
Mulpha Land had announced in May 2011 that it planned to undertake a rights issue of 456.61 million new shares and 273.96 million free warrants. At an indicative issue price of 22 sen per rights unit, the rights issue is expected to raise RM100.45 million.
Shares of Mulpha Land added 15 sen to a high of 61 sen before the stock was transacted lower at 59 sen at 12.15pm.
Regulators had in March this year, granted a six-month extension to Mulpha Land to implement its planned rights issue.
Mulpha Land had announced in May 2011 that it planned to undertake a rights issue of 456.61 million new shares and 273.96 million free warrants. At an indicative issue price of 22 sen per rights unit, the rights issue is expected to raise RM100.45 million.
