Wednesday, November 9, 2011

Heavy trading of Emico shares, warrants surge

KUALA LUMPUR (Nov 9): Penny stock Emico Bhd attracted heavy speculative interest on Wednesday, with the shares and warrants surging despite any strong positive corporate developments.

At 12.10pm, Emico was up 16.5 sen to 36.5 sen with 52.67 million shares done. The warrants jumped 15 sen to 22 sen with 4.87 million units transacted. Investors should note that there are 11.13 million warrants in the market only.

The warrants, issued in December 2003, expire in 2013. The earlier conversion or strike price was RM1 but it was later revised to a one for one conversion.

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