KUALA LUMPUR: Tanco Holdings Bhd
shares hit limit down for the third consecutive trading day today, prompting Bursa Malaysia to suspend intraday short-selling (IDSS) of the stock for a third straight session.
The stock has come under intense selling pressure this week, falling to 20 sen today from a recent high of RM1.76 recorded on June 3.
In a filing, Bursa Malaysia said the suspension would remain in effect for the rest of today's trading session after Tanco's share price fell by more than 15 per cent, or 15 sen, from its reference price.
The exchange said short-selling of Tanco shares under the IDSS framework will resume at 8.30 am tomorrow.
Earlier today, Tanco shares plunged 30 sen, or 60 per cent, to 20 sen, with 206.24 million shares traded.
On Monday, Bursa Malaysia Securities Bhd issued an unusual market activity (UMA) query to the property developer following the sharp decline in its share price.
Meanwhile, on Tuesday, Tanco's indirect wholly-owned subsidiary, Tanco Dot Com Sdn Bhd, entered into a memorandum of understanding with Hong Kong-based China Mobile International Ltd to explore the development of a 50-megawatt information technology-load data centre in Negeri Sembilan. - Bernama
