KUALA LUMPUR (July 14): Shares in Classita Holdings Bhd (formerly known as Caely Holdings Bhd) shot to a three-month high of 22 sen in active trading on Friday (July 14).
The Perak-based lingerie maker pared gains to close at 21.5 sen, still up 7.5 sen or 53.57%, with a record high daily trading volume of 281.46 million shares, placing it among the bourse’s top active counters.
At 21.5 sen, Classita is valued at RM254.85 million. Year-to-date, the stock is down 41.1%.
The reason behind the share price climb is unclear. However, it is worth noting that the company’s 880.53 million rights shares and 528.32 million warrants were listed on Friday.
The rights shares were issued to shareholders at a price of 10 sen per share on the basis of two rights shares for every five shares held, accompanied by free detachable warrants on the basis of three warrants for every five rights shares, with an exercise price of 20 sen.
The newly listed warrants topped the bourse’s top active list with 491.01 million units changing hands. The warrants closed at seven sen.
The resolution for the issuance of the rights issue with warrants was passed by Classita shareholders in an extraordinary general meeting on March 27.
According to previous bourse filings, Classita executive chairman Ng Keok Chai subscribed to 55.66 million rights shares or a 4.51% stake, while its largest shareholder Chan Swee Ying subscribed to 285.06 million rights shares, raising her stake to 303.09 million shares or a 24.59% stake in Classita.