by PRIYA VASU / pic by TMR FILE
EURO Holdings Bhd price downtrend appears to have reversed with the stock pricing rising some 44 sen since yesterday to RM1.07 at time of writing.
The stock rose limit-up to 93 sen yesterday in the absence of any newsflow.
In early trade today, buying interest continued with some 33.3 million shares traded.
Euro Holdings stock has been very volatile in the past 12 months rising from 41 sen on July 1, 2020 to a high of RM5.62 on Jan 15, 2021 before correcting to a low of 55 sen this week.
According to a filing on March 24, 2021, Euro proposed to undertake a bonus issue of 3.2 billion new ordinary shares on the basis of four bonus shares for every one share held.
As at 16 March 2021, the total issued share capital of Euro is RM48.4 million comprising 801.9 million shares.
Upon the completion of the Proposed Bonus Issue, the total issued share capital of Euro is RM48.4 million comprising four billion shares, the company noted in its filing.
However Euro’s board on June 17 decided to terminate the proposed bonus issue after taking into consideration the recent market volatility in the share price performance.