Malton-LR falls 29.6% on first trading day

KUALA LUMPUR: The loan stocks of Malton Bhd lost 29.6% of the value when they commenced trading on Monday, June 13.

At 4.02pm, Malton-LR was down 8.2 sen to 19.5 sen with 10.85 million units done. It shares fell three sen to 52.5 sen with 6.26 million shares done.

The FBM KLCI fell 9.91 points to 1,546.28. There were 586.51 million shares done valued at RM790.84 million. There were 147 gainers, 553 losers and 279 stocks unchanged.

The corporate exercise involved the renounceable rights issue of up to RM156.39 million nominal value of seven-year 6% redeemable convertible secured loan stocks (RCSLS) at 100% of its nominal value together with with up to 156.39 million free detachable new warrants and up to 78.19 million new shares on the basis of RM2 nominal value of RCSLS together with two warrants and one bonus share for every five shares held as at 5pm on June 10.

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