not vested
Dataprep extends gain to rise 34.48% amid talk of corporate exercise
By Adam Akmal Aziz
KUALA LUMPUR (March 20): Shares of Dataprep Holdings Bhd extended its rally from last Friday to gain 34.48% in active trade this morning.
Last Friday, Dataprep’s share price jumped 61.11% to close at 43.5 sen, amid speculation that major shareholder Datuk Lim Chee Wah will conduct a major corporate exercise with the counter.
The company was not immediately available for comment.
At 10.19am today, Dataprep’s counter rose 15 sen to 58.5 sen, with 94.7 million shares traded.
Dataprep is the only listed entity controlled by Lim via VXL Holdings Sdn Bhd.
VXL and Dataprep are both heavily involved in the development of Genting Secret Garden Resort in China, the US2.9 billion skiing resort which doubles as the venue for Beijing Winter Olympics 2022.
Bursa Malaysia issued an unusual market activity (UMA) query to Dataprep on Friday, to which the company said it is not aware of the reasons behind the surge.
SJ Securities senior remisier KC Goh told theedgemarkets.com that shares of Dataprep were traded above 360-day moving average lines on Friday, signalling the return of long term funds to the counter.
Source: The Edge