Business News

Published: Thursday February 7, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:42:29 AM

Trading in SP Setia suspended for book-building to place out 15% stake (Update)

KUALA LUMPUR: Trading in the share of SP Setia Bhd was voluntarily suspended from 2.30pm to 5pm on Thursday for the book-building involving 15% of its paid-up share capital.

The company said the suspension was to facilitate the book-building process under the placement.

At midday, SP Setia was up one sen to RM3.11. There were 149,200 shares traded.

Permodalan Nasional Bhd is the major shareholder with a direct stake of 53.88% or 1.151 billion shares. Its president and CEO Tan Sri Liew Kee Sin owns 5.29% or 112.99 million shares.

The property company is scheduled to hold an EGM on Feb 28 to seek shareholders' approval for the proposed termination of its existing employees' share option scheme.

It seeks to set up a long-term incentive plan of up to 15% of the paid-up for eligible employees and executive directors of the company and its subsidiaries.

Tags / Keywords: News, Business, Trading, SP Setia, voluntarily suspended, Permodalan Nasional Bhd, president and CEO Tan Sri Liew Kee Sin, Business, Property

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