Quick take: Icon Offshore continues attract trading interest


  • Stock on the Move
  • Tuesday, 18 Feb 2020

KUALA LUMPUR: Shares in Icon Offshore Bhd continued to attract strong trading interest on Tuesday after Bursa Malaysia lifted its designated securities status on the counter.

The operators of offshore support vessels (OSVs) fell 28.57%, or five sen to 12.5 sen. It is currently the most active stock on Bursa Malaysia with 113.5 million shares traded.

Icon-WA gained 500%, or five sen to six sen with 58.9 million shares traded.

Its shares hit limit up after surging 30 sen in early Monday trade. The rally, however, was cut short as the stock came crashing down in the afternoon session.

Icon Offshore said 2.6 billion new shares and 654.5 million warrants will be listed on the local bourse today.

Under the rights issue exercise by Icon Offshore, the company offered the rights shares on the basis of 100 rights shares for every Icon share held, at a subscription price of 10.5 sen apiece.

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Icon Offshore , Bursa

   

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