CAKAP MACAM TAK CAKAP, will tomorrow it share plunge to 30 cents???
Written by Joseph Chin
Wednesday, 01 December 2010 16:34
KUALA LUMPUR: Bursa Malaysia Securities has queried K-Star Sports Ltd after the share price plunged in late afternoon trade on Wednesday, Dec 1.
At the close, it was down down 32.5 sen to 57 sen with 26.76 million shares done.
K-Star, in response to the query later, said it was not aware of the unusual market activity in relation to the sharp fall of prices of the shares.
The company said it on Nov 26 announced a proposed sponsorship of a Depository Receipts Programme in Taiwan.
It had also proposed to issue up to 75.60 million new shares in K-Star, at an issue price to be determined later, which would be part of the underlying shares for the Taiwan Depository Receipts (TDRs) to be issued and alloted in Taiwan in connection with the proposed TDR programme.
K-Star had proposed to offer up to 24.40 million existing shares, at an offer price to be determined later, by certain existing shareholders of K-Star.
