TA Global down 5% at close

KUALA LUMPUR: Shares of newly-listed TA Global Bhd closed at 47.5 sen on the stock's initial trading day on Nov 23, down 2.5 sen or 5% from its issue price of 50 sen.

TA Global is the real estate and hospitality arm of financial services entity TA Enterprise Bhd. TA Global, the second most actively traded stock on FBM KLCI on Nov 23 with some 39 million shares done, saw its shares climb as high as 51 sen and fall to a low of 47 sen.

In a note, RHB Research Institute Sdn Bhd wrote that TA Global planned to launch about RM4.5 billion worth of real estate projects between 2010 and 2013. These jobs are expected to sustain TA Global's financials over the next seven years.