Now is RM 0.16 fall 28 cents.
According to an MAS announcement, the trading of rights entitlements will be from Thursday to Feb 22.
MAS's corporate exercise involved a renounceable rights issue of 1.67 billin new shares of RM1 each (rights shares) at RM1.60 per rights shares on the basis of one rights shares for every one share held at Feb 10
MALAYSIAN Airline System Bhd, the national carrier, fell to its lowest level in more than seven years in Kuala Lumpur trading after investors sold the stock to seek out cheaper rights shares. The company, which raised funds through a rights offer at RM1.60 each, dropped 6.4 per cent to RM1.91 at 11.40 am local time, set for the lowest close since September 26, 2002. Its rights entitlement began trading today at 16.5 sen each. "It gives investors an arbitrage opportunity," said Pankaj Kumar, who manages RM1.9 billion of assets as chief investment officer at Kurnia Insurance Malaysia Bhd. "It means that you can sell your mother share, buy the rights, pay RM1.60 plus 16.5 sen, and pocket the difference." The airline announced on December 22 a plan to raise RM2.67 billion through a rights offer to help pay for planes. The company ordered US$3 billion worth of Airbus SAS planes to add routes and challenge budget carriers. - Bloomberg
MALAYSIAN Airline System Bhd, the national carrier, fell to its lowest level in more than seven years in Kuala Lumpur trading after investors sold the stock to seek out cheaper rights shares. The company, which raised funds through a rights offer at RM1.60 each, dropped 6.4 per cent to RM1.91 at 11.40 am local time, set for the lowest close since September 26, 2002. Its rights entitlement began trading today at 16.5 sen each. "It gives investors an arbitrage opportunity," said Pankaj Kumar, who manages RM1.9 billion of assets as chief investment officer at Kurnia Insurance Malaysia Bhd. "It means that you can sell your mother share, buy the rights, pay RM1.60 plus 16.5 sen, and pocket the difference." The airline announced on December 22 a plan to raise RM2.67 billion through a rights offer to help pay for planes. The company ordered US$3 billion worth of Airbus SAS planes to add routes and challenge budget carriers. - Bloomberg