Sinotop-OR rights shares were trading at two sen at the midday break on Wednesday, July 7.
At 12.30pm, it was down one sen to two sen with 16.57 million units transacted. Its mother shares had fallen three sen to 29 sen with 10.89 million shares done.
The reference price for the rights shares, when they started trading on June 29, was 40.5 sen. The rights shares fell as much as 70% or 28.5 sen to close at 12 sen on that day.
A total of 307.08 million right shares of 20 sen each were issued on the basis of 10 rights shares for every one share held.
The rights will cease quotation on July 13 and the last day of acceptance is July 29.
Written by Joseph Chin
The Edge Malaysia
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