Sapura Energy Tops Active List On Bursa In Early Trade

KUALA LUMPUR, July 1 (Bernama) -- Sapura Energy Bhd emerged as the most actively traded stock on Bursa Malaysia during the early trading session, following the approval of its proposed regularisation plan to exit Practice Note 17 (PN17) status after four deadline extensions.

At 9.43 am, the counter gained half a sen to four sen, with 82.12 million shares changing hands.

In a filing with Bursa Malaysia on Monday, the company said the proposed regularisation plan entails capital reconstruction, debt restructuring, fundraising, and an exemption.

Sapura Energy first requested an extension on May 31, 2023, with the latest application made on Dec 17, 2024, seeking a further six-month extension until May 31, 2025.

Approval of the plan requires Sapura Energy and its principal adviser, MIDF Amanah Investment Bank Bhd, to fully comply with the relevant provisions of the Main Market Listing Requirements.

-- BERNAMA