BUSINESS

MERCURY SECURITIES IN BUSINESS ACQUISITION TALKS

18/01/2024 08:44 PM

KUALA LUMPUR, Jan 18 (Bernama) -- Mercury Securities Group Bhd today disclosed that it is currently in negotiation to purchase a business to complement its existing business and its subsidiaries.

The securities and corporate finance advisory firm said it would make an immediate announcement once the terms and conditions of the purchase have been finalised and agreed upon by all parties.

“For now, the terms and conditions of the purchase have yet to be finalised,” it said in a filing with Bursa Malaysia in response to Bursa Malaysia Securities Bhd’s query for unusual market activity (UMA) about the sharp fall in its share prices.

It said the company is not aware of any other corporate development relating to its business and affairs that has not been previously announced that might account for the trading activity, including those in the stage of negotiation/discussion.

Mercury Securities said it is also not aware of any rumour or report concerning the business and affairs of the company that might account for the unusual market activity and any other possible explanation for the bearish trading pattern.

On Jan 17, Bursa Malaysia Securities issued an UMA query on the sharp fall in the price of Mercury Securities shares.

On Tuesday, Mercury Securities shares tumbled to 68 sen at 4 pm from 88 sen at 3.30 pm.

The share remained under pressure with the price shrinking nine per cent to 42 sen at today’s closing from 46 sen yesterday.

-- BERNAMA 

 

 


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