Scomi shares actively traded on news of new shares issuance

Scomi Group Bhd's shares were actively traded today after Bursa Malaysia Securities approved the company's application to issue new shares to its directors, major shareholders or related parties without having to obtain approval from shareholders.

At 11.42am today, Scomi shares were up 2.5 sen to 18.5 sen, with 125.85 million shares traded.

In a filing to Bursa Malaysia on last Friday, Scomi said the special exemption was related to its earlier proposal to consolidate its business via a three-way merger with two subsidiaries, Scomi Engineering Bhd and Scomi Energy Services Bhd.

Scomi Energy shares were also actively traded today, gaining 1.5 sen to 15.5 sen with 18.73 million shares traded. Scomi Engineering rose by two sen to 31 sen, with 1.3 million shares changing hands. - BERNAMA