KUALA LUMPUR (March 9): Astro Malaysia Holdings Bhd’s board has not received confirmation of any privatisation proposal, said the pay-TV service provider.

The statement to the stock exchange came after its share price soared 22% on Wednesday — the largest single-day jump in terms of percentage — and again sparked speculation on a privatisation exercise.

“The board of directors of Astro wishes to clarify that as far as it is aware, after making due enquiry, the company has not received confirmation of any privatisation proposal,” said Astro in the filing, with reference to the article in The Edge CEO Morning Brief dated March 9 entitled “Astro share price soars 22%; sparks speculation on privatisation.”.

The share price rally lost steam on Thursday and the stock dropped six sen or 8.22% or 67 sen, giving it a market capitalisation of RM3.49 billion.

However, Astro was the third most actively traded counter on Bursa Malaysia with 64.8 million shares changing hands compared with 72.04 million shares on Wednesday.

Currently, tycoon Ananda Krishnan controls a 41.29% stake, while Khazanah Nasional Bhd has 20.67%. The other substantial shareholders are Amanah Nasional Bhd with 6.07% and Employee Provident Fund with 4.98%.