THE UEM Group made a strong return to the KLSE yesterday, with its flagship – UEM World Bhd – traded at a 66-sen or 41% premium over its swap price of RM1.60 minutes after it was quoted.
UEM World was created to assume the listed status of Renong, address the latter's debt problems and ensure earnings sustainability. Renong, whose shares were last traded at 42 sen, was taken private and de-listed on Oct 17. The restructuring involved a share swap.
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