Friday, November 26, 2010

QSR, Kulim top gainers in early trade

KUALA LUMPUR: Shares, QSR BRANDS BHD [] and Kulim (Malaysia) Bhd rallied in early trade on Friday, Nov 26 after the proposed acquisition of QSR at RM6.70 a share.

At 9.10am, QSR was up 59 sen to RM6.20 with 1.01 million shares done and its warrants, QSR-WB gained 29 sen to RM3.17.

Kulim rose 36 sen to RM12.36 with 404,400 shares done while KFC Holdings Bhd added 10 sen RM4.04.

Carlyle Asia Investment Advisors Ltd has offered to Kulim to acquire all its shares in QSR at RM6.70 a share. Its offer trumps Tan Sri Halim Saad's offer of RM5.60 a share for QSR.

The bid for all of QSR's 290.034 million shares values it at RM1.94 billion.

The FBM KLCI rose 2.37 points to 1,498.86. There were 187.46 million shares done valued at RM854 million. Gainers led losers 140 to 66 while 97 stocks were unchanged.

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