PUC sees 10 million shares traded off market – Business News


KUALA LUMPUR: PUC Bhd saw 10 million of its shares traded off-market on Tuesday.

Stock market data showed the block of shares was traded at 30 sen each, 1.5 sen below closing price of 31.5 sen at midday. 

PUC, which is involved in media and advertising, e-payment services and renewable energy, hardly covered by analysts. The stock rose 50% in the past month and is currently trading at 315 times trailing 12-month earnings per share. Year-to-date, it has gained a whopping 384.62%. 

In a filing with Bursa Malaysia, PUC has offered to repay 3-year, 4%,irredeemable convertible unsecured loan stocks (ICULS) holders the remaining unutilised proceeds as at Dec 21, 2017 amounting to 5 sen per ICULs in cash following the variation of utilisation of proceeds raised from the rights issue of ICULS with Warrants-B.

PUC said as at Dec 21, 2017, the remaining proceeds stood at RM36.45mil and there were 612.99 million ICULS outstanding. Based on the above, the repayment amount is 5.00 sen per ICULS.

Read more : thestar

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