Business News

Published: Thursday April 18, 2013 MYT 12:00:00 AM
Updated: Friday April 26, 2013 MYT 12:09:24 AM

Globatec Formation's 109m shares or 2.06% traded off-market

KUALA LUMPUR: Globaltec Formation Bhd's 109 million shares were traded in an off-market deal at an average price of 6.5 sen on Thursday afternoon.

Stock market data showed the shares accounted for a 2.06% stake, based on the company's paid-up of 5.273 billion shares.

At 4.03pm, Globatec was unchanged at 6.5 sen.

The FBM KLCI fell 3.79 points to 1,707.18. Turnover was 603.78 million shares valued at RM1.18bil. There were 218 gainers, 413 losers and 287 counters unchanged.

Globaltec was the special purpose vehicles for the merger of AutoV Corporation Bhd, AIC Corporation Bhd and Jotech Holdings Bhd and their subsidiaries.

After the merger, Globaltec and its group of companies are an integrated manufacturing services provider for precision metal stamping; precision machining and assembly of radio frequency microwave, photonics and medical components.

It also designs and fabricates precision tooling and automation equipment; injection moulding and it designs, manufactures and assembles automotive parts.

Tags / Keywords: News, Business, Globaltec Formation, off-market deal, AutoV Corporation Bhd, AIC Corporation Bhd, Jotech Holdings Bhd, Business

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