KUALA LUMPUR: Shares of PLUS EXPRESSWAYS BHD [] fell in early trade on Tuesday, Jan 11 following investors' disappointment over that Jelas Ulung Sdn Bhd failed to make the RM50 million deposit.
At 9.15am, PLUS was down 25 sen to RM4.44 with 2.24 million shares done. It was below the RM4.60 per share offered by UEM Group Bhd and the Employees Provident Fund (EPF).
The FBM KLCI fell 3.07 points to 1,560.45. Turnover was 185.51 million shares valued at RM98.23 million. Gainers led losers 134 to 123 while 185 stocks were unchanged.
OSK Research had revised the target price for PLUS' share price back to RM4.60 from RM5.20 after Jelas Ulung failed to make the RM50 million deposit as requested by PLUS.
PLUS had said only UEM Group and the EPF had remitted the cash deposit of RM50 million in their joint offer to take over for RM23 billion offer or RM4.60 per share. The deadline expired at 5pm on Monday, Jan 10.
OSK Research said on Tuesday, Jan 11 its target price is hence revised back to RM4.60 to reflect the UEM-EPF offer.
At 9.15am, PLUS was down 25 sen to RM4.44 with 2.24 million shares done. It was below the RM4.60 per share offered by UEM Group Bhd and the Employees Provident Fund (EPF).
The FBM KLCI fell 3.07 points to 1,560.45. Turnover was 185.51 million shares valued at RM98.23 million. Gainers led losers 134 to 123 while 185 stocks were unchanged.
OSK Research had revised the target price for PLUS' share price back to RM4.60 from RM5.20 after Jelas Ulung failed to make the RM50 million deposit as requested by PLUS.
PLUS had said only UEM Group and the EPF had remitted the cash deposit of RM50 million in their joint offer to take over for RM23 billion offer or RM4.60 per share. The deadline expired at 5pm on Monday, Jan 10.
OSK Research said on Tuesday, Jan 11 its target price is hence revised back to RM4.60 to reflect the UEM-EPF offer.
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