MISC stock 28% above Petronas' buyout price last year

PETALING JAYA: MISC Bhd shares, which have been on a second renewed upward trend since the beginning of this year, hit a two-and-a-half-year high of RM7.07 this week and closed at RM6.98 yesterday.

At this price, the stock is 28% above the buyout price of RM5.50 per MISC share that Petroliam Nasional Bhd (Petronas) made back in April last year. That deal did not receive shareholders’ approval then.