Brind.

Genting Bhd Stock Suspended on Bursa Malaysia After Price Drop

3 reports, 1 independent Updated Oct 1
No new developments lately
Reports
3
Developments
2
Repetition
33%

New informationRepeats or wire copies

AI-generated briefing. Brind wrote this from the reports listed below and has updated it as the story developed. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Genting Bhd shares fell by 15.97 per cent to RM1.58 on Monday, prompting Bursa Malaysia to suspend intraday short-selling for the day. The price decline followed the company's announcement of a plan to raise RM1.25 billion through a rights issue. Bursa Malaysia stated the suspension was due to the stock dropping more than 15 per cent from its reference price.

From thestar.com.my

Why it matters

Some supportBrind's analysis of the reports

The rights issue is intended to repay RM800 million of Genting Bhd's short-term borrowings, with the remaining funds designated for working capital. CIMB Securities maintained a 'hold' rating on the stock but anticipated a negative reaction from investors.

From thestar.com.my

Who's involved

  • Bursa MalaysiaThe stock exchange where the trading suspension occurred

How it developed

Newest first. Tap a step to see who reported it.
  1. Genting Bhd stock suspended on Bursa Malaysia following a price drop; CIMB maintains 'hold' call.1 source
  2. Genting filed a stock clarification with Bursa Malaysia.1 source

Keep exploring

The entities involved

Coverage

Newest first; wire copies grouped