Suiwah shares hit limit-up on privatisation plan
PETALING JAYA: Suiwah Corp Bhd , whose share price dropped to a five-year low a month ago, surged 22.94% yesterday following the decision of its major shareholder to privatise the retail firm.
The Penang-based Suiwah’s shares hit limit-up in morning trade, rising 65 sen or about 30% to an intra-day high of RM2.83.
By 5pm, the stock had pared some of its gains and closed at RM2.68, 50 sen or 22.94%% higher than the previous trading day’s closing price.
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