ABRIC (7061) - Stocks With Momentum: Abric
Abric Bhd
The share price for Abric (Fundamental: 1.7/3; Valuation: 2.4/3) jumped 5.5 sen to 47 sen after the stock went ex-special dividend for 30 sen per share on Jan 21, 2015. A cumulative of over 30 million shares changed hand in the past five days.
Following disposal of its security sealing solutions business for RM146 million, investors are speculating on the future of the company. Abric will use part of the proceeds to settle debts.
Upon completion of the corporate exercise, the company will have two investment properties and at least RM80 million cash. Cash per share is estimated to be about 54 sen per share, assuming full conversion of 8 million outstanding warrants whereby the number of shares will increase to 148.6 million.
Under PN16 of the listing requirements, Abric has become a cash counter and has about 11 months to acquire a new core business, failing which may result in suspension and delisting of its shares.
http://www.theedgemarkets.com
Abric Bhd
The share price for Abric (Fundamental: 1.7/3; Valuation: 2.4/3) jumped 5.5 sen to 47 sen after the stock went ex-special dividend for 30 sen per share on Jan 21, 2015. A cumulative of over 30 million shares changed hand in the past five days.
Following disposal of its security sealing solutions business for RM146 million, investors are speculating on the future of the company. Abric will use part of the proceeds to settle debts.
Upon completion of the corporate exercise, the company will have two investment properties and at least RM80 million cash. Cash per share is estimated to be about 54 sen per share, assuming full conversion of 8 million outstanding warrants whereby the number of shares will increase to 148.6 million.
Under PN16 of the listing requirements, Abric has become a cash counter and has about 11 months to acquire a new core business, failing which may result in suspension and delisting of its shares.
http://www.theedgemarkets.com
