Hovid up as KWAP emerges as substantial shareholder

KUALA LUMPUR: Hovid Bhd’s share price was given a boost and rose to a high of 56.5 sen on Tuesday after Kumpulan Wang Persaraan (Diperbadankan) (KWAP) emerged as a substantial shareholder.

At 11.06am, it was up 2.5 sen to 55.5 sen. There were 23.35 million shares traded at prices ranging from 54 sen to 56.5 sen.

The FBM KLCI rose 8.36 points or 0.45% to 1,857.02. Turnover was 1.35 billion shares valued at RM664.18mil. There were 370 gainers, 265 losers and 323 counters unchanged.

StarBiz reported the pension fund had been accumulating the shares in Hovid. Hovid’s pharmaceutical division manufactures and markets more than 350 types of ethical drugs, health and dietary supplements.

It held 5.3% or 40.547 million shares as at April 9.