KUCHING: An apparent unsuccessful second attempt in five years by major shareholder Datuk Zainal Abidin Ahmad to privatise Zecon Bhd has dampened the share price of the company.
Zecon fell to 68 sen in early trading on Tuesday from Monday’s close of 70 sen following an announcement that the company and its non-entitled shareholders had resolved to withdraw the proposal to implement a selective capital repayment (SCR) exercise that would pave the way for its privatisation by major shareholders and subsequently its delisting from Bursa Malaysia.