Inari slumps on cash call, profit taking


KUALA LUMPUR: Inari Amerton's shares and it warrants fell early Monday as investors reacted negatively to its cash call and also due to profit taking.

At 9.10am, the shares fell six sen to RM3.07. Turnover was 722,700 shares ranging from RM3.03 to RM3.11.

Its share price surged to a record high of RM3.15 on July 3.

Inari's warrants fell four sen to RM2.66.  There were 369,700 units traded at prices ranging from RM2.64 to RM2.69.

The FBM KLCI rose 1.54 points to 1,886.45. Turnover was 172.62 million shares valued at RM72.65mil. There were 209 gainers, 104 losers and 201 counters unchanged.

Last Friday, Inari announced plans to undertake a renounceable rights issue on the basis of one rights share and one free warrant for every existing eights shares held at an indicative issue price of rights share at RM1.50.

The corporate exercise involved the rights issue of up to 88.825 million rights shares together with up to 88.825 million warrants.

Based on the indicative issue price of RM1.50 per rights share, the proposed rights issue with warrants will raise between RM100.27mil and RM133.24mil.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

Jobs in the new normal
GLOBAL LNG-Asian spot prices rise on oil surge and heating demand
Airbus re-sells six unwanted jets built for AirAsia
Hong Kong is the real loser from new China copper contract
OPEC+ panel's informal online talks postponed to Sunday
Oil prices post weekly gain ahead of OPEC+ meeting
GLOBAL MARKETS-Stocks at record high but yields fall, US$ pressured
Enhancing sustainable tax revenue
Can Malaysia afford to revamp its corporate tax rate?
Short Position - Indecent disclosures

Stories You'll Enjoy