Ajinomoto rebounds as US fund emerges substantial shareholder

  • Business
  • Tuesday, 22 Dec 2015

KUALA LUMPUR: Shares of food and seasoning company Ajinomoto (Malaysia) Bhd rebounded on Tuesday on news about the emergence of US-based fund FMR LLC as a substantial shareholder.

At midday, it was up 69 sen to RM9. There were 160,200 shares done.

According to a filing with Bursa Malaysia, FMR acquired 3.04 million shares or 5% stake on Dec 7.

On Dec 10, it bought 4,000 shares and bought 11,000 shares on Dec 11, increasing its shareholding to 3.06 million shares or 5.038%.

Last Thursday, Bursa Securities queried Ajinomoto Bhd after the recent surge in its share price which saw it hitting a high of RM9.30 – up RM2 from a week ago.

However, after the query about the unusual market activity, the share price tumbled on profit taking.
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