STOCK SAHAM.CO

Nearly 25% of Engtex’s warrants B crossed in off-market trades

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KUALA LUMPUR: Engtex Group Bhd saw 26.66 million of its warrants B (warrants 2021/2026) that were listed in September last year, representing 24.44% of the total warrants B issued, traded in off-market trades on Thursday (Nov 10).

Bloomberg data showed that the pipe manufacturer’s warrants crossed at 1.5 sen apiece or a total of RM399,830, a discount of 90.91% from the warrants’ closing price of 16.5 sen apiece.

Last year, the group announced a renounceable rights issue of 109.09 million new warrants on the basis of one warrant for every four existing shares in Engtex.

The rights shares were issued at three sen apiece, while the exercise price of the warrants was set at 70 sen apiece.

Engtex’s share price closed unchanged at 63 sen, with a market capitalisation of RM279 million.

Source : The Edge Markets

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