Friday, April 8, 2011

Tat Giap active, up on Nippon Steel's plan

KUALA LUMPUR: Tat Giap Group Bhd shares were actively traded on Friday, April 8 after Nippon Steel Corp, the world's fourth largest steelmaker, said it intends to raise its stake in Tatt Giap subsidiary Nippon EGalv Steel Sdn Bhd, which manufactures electro-galvanised steel.

At 9.40am, Tat Giap was up 9.5 sen to 67.5 sen with 17.12 million shares traded.

According to a Reuters report yesterday, Nippon Steel planned to increase its stake in Nippon EGalv to 50.1% from 10% for US$6.5 million (RM19.7 million) by end-June.

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