Wednesday, August 4, 2010

Zelan up 9% after US-based fund buys 5% stake

KUALA LUMPUR: Shares of ZELAN BHD [] rose 9% in late afternoon trade on Wednesday, Aug 4 after US-based fund Grantham, Mayo, Van Otterloo & Co (GMO) emerged as a substantial shareholder with a 5.02% stake.

At 4pm, it was up 5.5 sen to 66 sen with 8.8 million shares done.

A company filing with Bursa Malaysia showed the global investment management firm had acquired 28.28 million shares as of Aug 2.

GMO is a private partnership and as at June 30, 2010, it managed more than US$94 billion in client assets, US$32 billion of which was in asset allocation strategies.

No comments:

Post a Comment