Monday, April 25, 2011

Pos Malaysia slides in early trade

KUALA LUMPUR: Shares of POS MALAYSIA BHD [] fell in early trade on Monday, April 25 after DRB-HICOM BHD [] acquired a strategic stake in the national courier company.

At 9.40am, Pos fell six sen to RM3.31 with 627,700 shares traded.

Khazanah Nasional Bhd has divested its strategic 32.21% stake in Pos Malaysia to DRB-Hicom Bhd at RM3.60 per share or RM622.79 million, deemed a landmark divestment by the government's investment arm of its entire stake in a major government-linked company.

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