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MRCB falls 4% on rights shares' maiden trade

Mimi Sabreena 10:52:00 AM Informasi

KUALA LUMPUR (Oct 5): Malaysian Resources Corp Bhd (MRCB) shares fell as much as four sen or 4% as the builder and property developer's new rights shares start trading today.

At 10:02am, MRCB shares fell to their lowest so far today at 87 sen for a market value of RM2 billion. MRCB was Bursa Malaysia's ninth most-active stock with some 12 million shares transacted.

CIMB Investment Bank Bhd analyst Sharizan Rosely said: "Our adjusted RNAV (revised net asset value)-based (MRCB) target price incorporates the dilution from the rights issue and outstanding warrants."

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