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Published: Friday March 8, 2013 MYT 9:20:00 AM
Updated: Friday March 8, 2013 MYT 9:47:12 AM

Hong Leong Capital shares fall after Bursa Securities query (Update)


KUALA LUMPUR: Hong Leong Capital Bhd's share price fell on Friday after it was queried by Bursa Malaysia Securities over the sharp rise in its price recently while investors worried about the impending trading suspension.

At 9.29am, its share price had fallen 35 sen to RM3.25.

There were 20,200 shares traded at prices ranging from RM3.21 to RM3.58.

The regulator had on Friday issued the query following the unusual market activity (UMA) of Hong Leong Capital's share price.

On Thursday, its substantial shareholder, Datuk Dr Yu Kuan Chon sold 250,000 shares. After the disposal, his shareholding was reduced to 21.547 million shares or 8.72%.

The media-shy Yu is chairman and executive director of Perak-based YNH Property Bhd.

Below is the earlier story

KUALA LUMPUR: Bursa Malaysia Securities has queried Hong Leong Capital over the "sharp rise in price" in its shares recently.

The regulator had on Friday issued the query following the unusual market activity (UMA) of Hong Leong Capital's share price.

Bursa Securities directed the company to provide it with an announcement for public release after enquiring with the directors and major shareholders seeking the cause of the UMA.

At 9.06am, the shares slipped two sen to RM3.58.

On Thursday' the shares continued to rally, adding 20 sen to RM3.60, which was RM1.89 or 110% above Hong Leong Financial Group's takeover offer of RM1.71.

Trading in HLCap will be suspended on April 15 as it does not meet the public shareholding spread but some investors are expecting a higher revised offer.

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