KUALA LUMPUR (March 20): Singapore-based Advance Capital Partners Pte Ltd has become a substantial shareholder of D.B.E. Gurney Resources Bhd after Advance Capital increased its D.B.E. stake to 6.15%.
Poultry entity D.B.E. said fund-management firm Advance Capital acquired an additional 35.71 million D.B.E. shares last Tuesday (March 14) following conversion of redeemable convertible notes or bonds issued by D.B.E.
Following the bond conversion, Advance Capital owns 73.66 million shares representing 6.15% of D.B.E.'s issued share base.
At Bursa Malaysia today, D.B.E. shares rose 0.5 sen or 14% at 12:30pm to settle at four sen for a market value of RM47.88 million. The eighth most-active stock on Bursa Malaysia saw some 69 million shares traded.