X Close


Published: Wednesday May 23, 2012 MYT 9:01:00 AM

UAC surges after hitting limit-up Tuesday

KUALA LUMPUR: Shares of UAC Bhd surged in early trade on Wednesday, extending its run-up after hitting limit-up on Tuesday on Boustead Holdings Bhd's privatisation offer.

At 9.07am, UAC was up 46 sen to RM4.12. There were 29,000 shares transacted.

The FBM KLCI inched up 0.11 of a point to 1,546.95. Turnover was 39.26 million shares valued at RM25.42. There were 92 gainers, 69 losers and 103 counters unchanged.

On Tuesday, UAC surged nearly 30% to RM3.66 on Tuesday afternoon.

Boustead had offered RM4.30 a share to UAC minority shareholders, which was 49.9% above the latter's five-day volume weighted average market price of RM2.87 on May 18.

The privatisation would be via a proposed selective capital reduction (SCR) and repayment exercise, and a proposed dividend by UAC.


  1. Lawyer suffocates in attempt to rescue puppies from metre-deep hole
  2. Firefly flight bound for Kota Baru forced to turn back
  3. When the world turns upside down
  4. The Obama double in Malaysia
  5. Malacca treasure no longer a myth
  6. Babysitter swings one-year-old - and kills her instead
  7. TV series 'Indian Summers' to be shot in Penang
  8. Couple die after taking poison
  9. Malaysian passport 9th best in the world
  10. Japanese oil tanker robbed, three crew believed kidnapped in dramatic dawn raid