Sime Darby shares jump on dividend hope from Tesco stake sale

Sime Darby is exiting its hypermarket business by the second half of 2020 (2H20), following the disposal of its 30% stake in Tesco Stores (M) Sdn Bhd (Tesco Malaysia) for RM300mil.

KUALA LUMPUR: Shares of Sime Darby Bhd rose to a high of RM2.01 in late Thursday afternoon trade on investor hopes the sale of Tesco Malaysia stake could be distributed as dividends.

At 3.24pm, it was up 15 sen to RM2.01, the highest since March 6 with about 11 million shares done.