0610 GMT [Dow Jones] Yee Lee (5584.KU) +16% at MYR2.50, highest since 2000 after consumer products maker announced plans for bonus issue, share split. Company to distribute 2 bonus shares for every 5 shares; thereafter, every share to be split into two. Exercise would result in number of shares outstanding increasing by threefold. "This means that upon completion of this exercise, each share could be ultimately priced below the MYR1 mark. The affordability of the shares may spur greater retail interest," dealer says; resistance for stock pegged at MYR2.60 (2000 high), with support at intraday low of MYR2.30. (benjamin.low@dowjones.com)
No comments:
Post a Comment