KUALA LUMPUR: Shares of MALAYAN BANKING BHD [] surged to a high of RM9.24 in early trade on Friday, Jan 7 when it resumed trading after its proposed acquisition of Singapore-listed stockbroking firm Kim Eng Holdings Ltd for about RM4.3 billion.
At 9.11am, it was unchanged at RM9.01 after surging to RM9.24. Its earlier low was RM9.
The FBM KLCI shed 3.54 points to 1,564.83 on mild profit taking. Turnover was 126.42 million shares valued at RM125.63 million. There were 165 gainers, 111 losers and 190 stocks unchanged.
Hwang DBS Vickers Research is maintaining its BUY rating on Maybank and a Target Price of RM10.80.
The research house said it likes Maybank's proposed acquisition of Kim Eng as it will accelerate Maybank's regional growth prospects in brokerage and investment advisory
HDBSVR said Maybank is paying S$3.10/share (1.9x BV) for Kim Eng; 100% stake would cost RM4.3 billion.
'Maintain Buy rating and RM10.80 TP; Maybank is our high conviction pick,' it said.
At 9.11am, it was unchanged at RM9.01 after surging to RM9.24. Its earlier low was RM9.
The FBM KLCI shed 3.54 points to 1,564.83 on mild profit taking. Turnover was 126.42 million shares valued at RM125.63 million. There were 165 gainers, 111 losers and 190 stocks unchanged.
Hwang DBS Vickers Research is maintaining its BUY rating on Maybank and a Target Price of RM10.80.
The research house said it likes Maybank's proposed acquisition of Kim Eng as it will accelerate Maybank's regional growth prospects in brokerage and investment advisory
HDBSVR said Maybank is paying S$3.10/share (1.9x BV) for Kim Eng; 100% stake would cost RM4.3 billion.
'Maintain Buy rating and RM10.80 TP; Maybank is our high conviction pick,' it said.
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