KUALA LUMPUR: Apollo Food Holdings Bhd
has yet to formulate a rectification plan to address the shortfall in its public shareholding spread.
In a filing with Bursa Malaysia, the confectionery manufacturer said it was granted a six-month extension by Bursa Securities until July 23, 2024 to comply with the public shareholding spread requirement.
Apollo said the public shareholding spread of the company is 21.14% based on its record of depositors dated March 5.
“The company will use the extension of time granted by Bursa Securities to formulate the said rectification plan and to make the necessary announcements where appropriate,” it said.
Apollo closed up 39 sen to RM7.39, its all-time high with 377,200 shares traded. Year-to-date, the counter has risen over 28%.
For the first nine months, Apollo’s net profit almost doubled to RM47.87mil from RM24.8mil while revenue grew to RM198.2mil from RM196.8mil a year earlier.
