Maybank IB props up Malakoff shares on third day


KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB), as stabilising manager of Malakoff Corp Bhd, continued to support the power producer’s share price on its third day of listing.

On Tuesday the bank bought 39.5 million shares for RM69.6mil, or RM1.7602 per share. This raised the number of shares it had bought to 154.5 million at RM275.8mil.

Malakoff Corp had ended its maiden trading day on Bursa flat on Friday, at the IPO price of RM1.80.

Malakoff’s institutional offering had been oversubscribed by 13 times but the retail offering was oversubscribed only by 1.24 times.

Malakoff ended trading on Tuesday at RM1.76, down 4 sen, with 79.37 million shares changing hands.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

The rise of online financial fraud in Malaysia
Cybersecurity experts share their views
Letter to the editor
Dutch Lady losing dividend appeal
Currencies crack as dollar dominates
Stable currency is a must for the economy
Persistent overhang
Kechara Soup Kitchen set for expansion
Making peanut butter cool again
The winding road to a 15% global minimum tax

Others Also Read