Scomi Energy sees 18.1% stake traded off market


  • Corporate News
  • Friday, 14 Feb 2020

Scomi Energy was recently in the news after Bursa Malaysia Securities had on Jan 21 rejected its application for a waiver from being classified a PN17 company.

KUALA LUMPUR: SCOMI ENERGY SERVICES BHD, which had been designated as a Practice Note 17 (PN 17), saw 423.96 million shares transacted in an off-market deal at midday on Friday.

The shares accounted for an 18.1% stake based on the 2.341 billion shares issued.

Transacted at 5.2 sen a share, this was 0.8 sen below the share price of six sen at midday.

Scomi Energy was recently in the news after Bursa Malaysia Securities had on Jan 21 rejected its application for a waiver from being classified a PN17 company.

Bursa Securities rejected the application on concerns about the company's sustainability and growth potential of the existing/remaining business, and the ability to generate sufficient revenue and thus profitability.

Bursa Securities said it would continue to monitor the company's progress to ensure it complied with the Main Market Listing Requirements.

Scomi Energy is a subsidiary of SCOMI GROUP BHD which is also a PN 17 company.


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Scomi Energy , Scomi Group , off-market deal , PN17

   

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