Positive sentiment on BPlant despite failed deal

BPlant said it had received a letter from LTAT stating its intention to continue with the general offer.

PETALING JAYA: Investors are positive on Boustead Plantations Bhd (BPlant) despite the failed takeover deal by Kuala Lumpur Kepong Bhd (KLK) after the Armed Forces Fund Board (LTAT) stepped in to buy out the plantation group at an offer price of RM1.55 per share.

The counter surged to an intraday high of RM1.42 on active trade, before closing at RM1.40 with 79.33 million shares changing hands yesterday.