Lion Corp, Lion Div up in active trade
The Edge:KUALA LUMPUR: Shares of Lion Corporation and Lion Diversified rose in early trade on news of a possible merger between the two companies to consolidate the steel operations.
At 9.26am, Lion Corp and Lion Diversified rose 1.5 sen each to 45.5 sen and 55 sen each. Lion Corp saw 8.1 million shares done and Lion Diversified 6.38 million units transacted.
The FBM KLCI fell 4.13 points to 1,068.56. Turnover was 76.06 million shares valued at RM34.84 million.
The Edge weekly reported that the shareholding structure of the Lion group had undergone some major changes over the last few months.
Lion Diversified now holds a 59% stake in Lion Corp, which is the holding company for various listed Lion companies. The Edge reported the development could see a merger of Lion Diversified and Lion Corp to consolidate their steel operations.
THE REAL TRANSFORMATION NEEDED BY LION GROUP IS A RESTRUCTURING EXERCISE THAT BRINGING IN A WORLD CLASS LEADING STEEL MILL AS STRATEGIC PARTNER.
THAN IT WILL BE A REAL LION. NOT A CAT!
(Picture: Penang Ferry )
No comments:
Post a Comment