KUALA LUMPUR: Shares of HAP SENG CONSOLIDATED BHD [] fell for the third day on Monday, May 16 as investors sold the shares after it fixed the share placement price at RM5.25.
At midday, the share price was down 13 sen to RM5.32, which was the lowest since Dec 12 when the share price closed at RM5.63.
The FBM KLCI was marginally higher by 0.03 of a point to 1,540.77. Turnover was 458.2 million shares valued at RM578.25 million. There were 228 gainers, 415 losers and 282 stocks unchanged.
Last Thursday, the company fixed the issue price for the placement shares totaling 43.80 million shares at RM5.25, or 9.9% below the five-day volume-weighted average market price up to May 11 of RM5.83.
The company said on Thursday, May 12 the book-building exercise for the proposed placement of 43.80 million shares saw interest exceeded the amount offered. There was interest for about 62 million shares.
The 43.80 million shares represented 7.8% of the paid-up share capital of RM563.52 million shares, excluding 59.138 million treasury shares.
The placement will raise gross proceeds of RM229.95 million.
At midday, the share price was down 13 sen to RM5.32, which was the lowest since Dec 12 when the share price closed at RM5.63.
The FBM KLCI was marginally higher by 0.03 of a point to 1,540.77. Turnover was 458.2 million shares valued at RM578.25 million. There were 228 gainers, 415 losers and 282 stocks unchanged.
Last Thursday, the company fixed the issue price for the placement shares totaling 43.80 million shares at RM5.25, or 9.9% below the five-day volume-weighted average market price up to May 11 of RM5.83.
The company said on Thursday, May 12 the book-building exercise for the proposed placement of 43.80 million shares saw interest exceeded the amount offered. There was interest for about 62 million shares.
The 43.80 million shares represented 7.8% of the paid-up share capital of RM563.52 million shares, excluding 59.138 million treasury shares.
The placement will raise gross proceeds of RM229.95 million.
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