Tuesday, May 24, 2011

Pharmaniaga top loser ahead of June 10 suspension

KUALA LUMPUR: Shares of PHARMANIAGA BHD [] fell the most on Tuesday, May 24 ahead of trading suspension on June 10 as it failed to meet the public shareholding spread.

At 3.38pm, it was down 40 sen to RM5.60 with 4,100 shares done.

The FBM KLCI inched up 1.47 points to 1,530.45. Turnover was 567.46 million shares done valued at RM958.11 million. There were 334 gainers, 340 losers and 318 stocks unchanged.

Bursa Malaysia Securities Bhd had on May 10 announced that Pharmaniaga shares would be suspended from 9am on June 10 under the Main Market listing requirements.

'The suspension will only be uplifted by Bursa Malaysia Securities upon Pharmaniaga's full compliance with the public shareholding spread requirements under paragraph 8.02(1) of the MMLR or as may be determined by Bursa Securities,' it said.

BOUSTEAD HOLDINGS BHD [] owns 92.86 million Pharmaniaga shares or 86.81%.

In its first quarter ended March 31, 2011, Pharmaniaga reported net profit of RM15.48 million versus RM9.31 million a year ago.

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