KUALA LUMPUR: Key Asic Bhd
, whose shares were the most actively traded on Bursa Malaysia today, revealed that it is currently in the midst of undertaking on a corporate exercise.
In a brief statement to Bursa Malaysia titled Sharp Rise in the Share Price of the Company, the maker of chips and system products for Internet-of-things application said the relevant details had not been finalised at this time.
“The company will make the necessary announcements to Bursa Malaysia Securities Bhd in compliance with the Main Market Listing Requirements of Bursa Malaysia Securities Bhd in the event the company proceeds with the said corporate exercise,” it said.
The counter closed 10.5 sen higher at 27 sen - a seven-year high - with 248.78 million shares traded. The price shot up 74% from last Friday’s closing price of 15.5 sen.
The group posted a net loss of RM9.99mil for the 17-month financial period ended May 31, 2017, compared with a net loss of RM13.93mil in the previous year. (In April last year, the company changed its financial year end from Dec 31 to May 31.)
Khazanah Nasional Bhd is the second largest shareholder in Key ASIC with an 18.6% stake after Taiwanese/Canadian-owned Key ASIC Ltd (36.6%).
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