Malaysia's Sime Darby Bhd. Resumes Trading at MYR2.40 Vs. Reference Price of MYR1.85
By Yantoultra Ngui
KUALA LUMPUR, Malaysia--Malaysia's Sime Darby Bhd. (4197.KU) resumed trading on the country's bourse higher than its adjusted reference price on Thursday after its de-merger, while its newly created plantation and property units traded below their reference prices.
Sime Darby, formerly a conglomerate and now an automotive and heavy-equipment trading firm, opened the day at MYR2.40 per share, 29.7% higher than its adjusted reference price of MYR1.85. The stock is now trading at MYR2.38.
Sime Darby Plantation Bhd. (5285.KU), the world 's largest palm-oil producer by land size, debuted at MYR5.60, just a notch higher than its reference price of MYR5.59 before dropping 1.1% to MYR5.53.
Sime Darby Property Bhd. (5288.KU) opened at MYR1.30, 13.3% lower than its reference price of MYR1.50. It is now 17.3% lower at MYR1.24.
The listings were a de-merger exercise and did not raise new money.
-Write to Yantoultra Ngui at firstname.lastname@example.org
(END) Dow Jones Newswires
November 29, 2017 20:45 ET (01:45 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.