KUALA LUMPUR: BOUSTEAD HOLDINGS BHD [] shares advanced in early trade on Wednesday, June 8 after the company said it planned to pare down its shareholding in Pharmaniaga from 97% to 75% or below ''to fulfill local listing regulations by the end of the 3Q of this year.
At 9.20am, Boustead added six sen to RM6.22 with 458,500 shares done.
Boustead chairman Tan Sri Lodin Wok Kamaruddin on June 7 had said Boustead might make a private placement to interested parties or undertake schemes involving existing shareholders or personnel.
"These are possibilities," he told reporters at Pharmaniaga's AGM yesterday.
He said Pharmaniaga could contribute some 10% of Boustead's pretax profit in current financial year.
The contribution could rise to 15% within five years as Pharmaniaga expands regionally.
At 9.20am, Boustead added six sen to RM6.22 with 458,500 shares done.
Boustead chairman Tan Sri Lodin Wok Kamaruddin on June 7 had said Boustead might make a private placement to interested parties or undertake schemes involving existing shareholders or personnel.
"These are possibilities," he told reporters at Pharmaniaga's AGM yesterday.
He said Pharmaniaga could contribute some 10% of Boustead's pretax profit in current financial year.
The contribution could rise to 15% within five years as Pharmaniaga expands regionally.
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