Short selling of CTOS shares suspended by Bursa

KUALA LUMPUR: Bursa Malaysia Securities Bhd has suspended the short selling for CTOS Digital Bhd due to a significant decline in its share prices, falling more than 15%.

The credit reporting agency fell 30 sen, or 20.69% to RM1.15 at midday, making it the top loser on Bursa Malaysia. It is the second most heavily traded counter with 134.22 million shares done.

“The short selling under intraday short selling (IDSS) will only be activated the following trading day, on March 13 at 08:30 am,” Bursa Malaysia said.

For the financial year ended Dec 31, 2023, CTOS posted a net profit of RM118.4mil, up 65% from RM71.7mil a year ago while revenue rose to RM261.4mil against RM194.8mil last year.