Duopharma rebounds after hitting 13-month low

  • Markets
  • Friday, 13 Aug 2021

KUALA LUMPUR: Shares of Duopharma Biotech Bhd rebounded and managed to recoup most of its previous day’s losses on Friday as investors picked up the shares which were seen to have been oversold.

At 10.46am, it was trading at RM2.49, up 11 sen. There were 1.58 million shares done at prices ranging from RM2.40 to RM2.53.

The FBM KLCI was up just 0.31 of a point or 0.02% to 1,502.28. Turnover was 1.35 billion shares valued at RM596.59mil. There were 332 gainers, 370 losers and 414 counters unchanged.

On Thursday, it hit a near 13-month low of RM2.35 ahead of its shareholders’ meeting on Friday for the proposed bonus issue. At RM2.35, this was the lowest since July 22 last year.

The corporate exercise involved a bonus issue of 235.44 million shares on the basis of one bonus share or every three existing shares held.

Recently, Duopharma received conditional registration approval from Malaysia’s Drug Control Authority (DCA) for the Covid-19 Sinopharm vaccine developed by China National Biotec Group Co Ltd.

This followed Duopharma’s application for product registration of the vaccine, which is an inactivated virus vaccine registered under the name COVILO Suspension for Injection Covid-19 Vaccine (Vero Cell).

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Duopharma Biotech , rebound , EGM , bonus shares


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