KUALA LUMPUR 7-Eleven Malaysia Holdings Bhd
's trading stock took a tumble in early Monday trade following news it was proposing to dispose of its 75% stake in Caring Pharmacy Group Bhd to pharmaceutical rival BIG Pharmacy Healthcare Sdn Bhd.
The share opened on a slide at RM2.10 a share before tumbling to a low of RM1.92 or 13.18% below its reference price. As at 10am, there were 154,800 shares crossed.
The sell-off erases all the gains the share had made in the previous week, and puts it on track to its lowest close since March 2023.
7-Eleven said in a bourse filing last Friday it had received an offer from BIG to acquire its entire equity interest in Caring for RM637.5mil.
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