Eversendai issued with UMA query as share price soars

KUALA LUMPUR: Eversendai Corp Bhd has been issued with an unusual market activity (UMA) query by Bursa Malaysia following a sharp rise in the price of its security.

As at 12.30pm, the share of the construction firm was up 11 sen or 17.89% to 72.5 sen.

It had risen to as high as 78.5 sen earlier in the day, representing a 27.64% increase over its reference price of 61.5 sen.

The price of its warrants, meanwhile, was up eight sen or 24.62% to 40.5 sen a unit.

"Investors are advised to take note of the Company’s reply to the above UMA query which will be posted at Bursa Malaysia’s website under the company announcements, http://www.bursamalaysia.com/market/listed-companies/company-announcements/ when making their investment decision," said the exchange operator in a filing.

Year-to-date, Eversendai's share price has more than quadrupled in value.

Shares in the company first spiked to a four-year high on March 13 this year after investors reacted positively to a announcement it had secured projects worth RM5.4bil from the Saudi Arabia, the UAE and India.

The share nearly doubled in value to 40 sen a share in a single day of trading on volume of 130.42 million shares, its second highest on record.

A second leg of the rally started on May 3, whereupon the share opened at 38.5 sen and embarked on seven consecutive days of gains to-date.

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Eversendai , Bursa Malaysia , stock , UMA , query


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