KUALA LUMPUR: Heitech Padu Bhd
shares jumped 20% in early trade Monday after My E.G. Services Bhd (MyEG) acquired a 14.4% stake in the former for RM31.25mil cash.
At 10.31 am, the share price was up 49 sen or 20% to RM2.94, on the back of 3.04 million shares traded. The counter has risen more than 142% in the past month.
In a filing with Bursa Malaysia, MyEG said its wholly-owned subsidiary, My E.G. Capital Sdn Bhd acquired an aggregate of 14.57 million ordinary shares representing approximately 14.40% equity interest in HeiTech Padu via open market and direct business transactions.
MyEG Capital acquired 5.15 million ordinary shares on March 7 via open market for RM11mil cash or at an average acquisition price of RM2.134 per HeiTech share.
It also acquired 9.4 million ordinary shares on March 7 via direct business transaction for a total cash consideration of RM20.2mil or at an average acquisition price of RM2.15 per HeiTech share.
