CEO Morning Brief

Vinvest Says It Has No Idea What Caused Its Share Price Plunge

Publish date: Thu, 18 May 2023, 09:05 AM
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TheEdge CEO Morning Brief
Vinvest says it has no idea what caused its share price plunge

KUALA LUMPUR (May 17): Vinvest Capital Holdings Bhd (formerly Vivocom Intl Holdings Bhd), whose share price lost more than half its value on Tuesday, is not aware of any report, rumour, corporate development or any other possible explanation that could account for the recent sharp fall in its share price, in response to an unusual market activity query (UMA) issued by Bursa Malaysia.

The technology and construction company said this in a Wednesday (May 17) bourse filing after making due enquiry with its directors, major shareholders and other such relevant persons, in response to the regulator's query that was issued a day earlier.

“The company is in compliance with the Listing Requirements of Bursa Securities on immediate disclosure obligations, and will make the necessary announcement to Bursa Securities of any material information in compliance with the Listing Requirements,” its filing further read.

On Tuesday, its counter plummeted 52.78% or 9.5 sen to 8.5 sen a share from 18 sen — making it the top loser on Bursa Malaysia. With 331.7 million shares traded, it was also the most actively traded stock on the local exchange.

The counter dipped another 0.5 sen or 5.88% to close at 8 sen, valuing the company at RM77.53 million.

Source: TheEdge - 18 May 2023

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