PETALING JAYA: Shares of diversified conglomerate UMW Holdings Bhd tumbled 59 sen or 9% to RM5.90 yesterday after the Main Market company announced a cash call to part-finance the purchase of car maker Perodua.
Analysts expect the rights issue exercise, which could raise up to RM1.1bil cash, to be earnings per share (EPS) accretive for UMW, despite the dilution impact from the additional new shares.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!