PIE Industrial surges to record high on share split plan


In a filing with Bursa Malaysia yesterday the electronics manufacturing services (EMS) provider said the improved performance was mainly attributable to higher demand from existing customers for electronics manufacturing activities, raw wire & cable products and trading.


KUALA LUMPUR: P.I.E. Industrial Bhd's share price surged to a record high of RM14.10 on Wednesday as investors were upbeat on its share split plan.

At 3pm, it was up 54 sen to RM13.68. There were 24,100 shares done at prices ranging from RM13.50 to RM14.10.

The FBM KLCI rose 4.29 points or 0.25% to 1,719.29. Turnover was 1.14 billion shares valued at RM1.01bil. There were 369 gainers, 375 losers and 383 counters unchanged.

PIE provides a one-stop contract electronic manufacturing service for the computer, electronics and telecommunication industries, including assembly of various cables. and it also tests various electronic products including bar code scanner assembly, PCB assembly.

It had proposed a one-into-five share split which it said was expected to improve the liquidity of its shares by increasing the number of shares in issue. 

“Furthermore, the adjustment in market price of PIE shares pursuant to the proposed share split is expected to result in the split shares being more affordable in order to appeal to a wider group of public shareholders and investors,” it said.

As at April 4, the paid-up was RM76.808mil comprising 76.808 million shares. Upon completion of the share split, the number of shares would be 384.04 million.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

Zafrul: Strict MCO remains under phase two of NRP
Govt remains committed to help those adversely affected by pandemic
UK's Morrisons rejects takeover proposal from CD&R
Wall St week ahead - Fed shift causes rally in value stocks to wobble
Bank stocks lurch into ranks of June’s worst as rally unravels
Fernandes: Aviation industry likely to return to normal in 2022
KPower energises global energy, solar market
MEF: Well-coordinated enforcement activities on businesses crucial
Mustapa: 12MP includes National Recovery Plan
Maybank IB clinches top awards at FinanceAsia Country Awards, Alpha SEA

Stories You'll Enjoy


Vouchers