This article first appeared in The Edge Financial Daily on October 12, 2017

KUALA LUMPUR: Key Asic Bhd, whose shares reached a seven-year high yesterday and was the most active counter on the local stock exchange, has revealed it is in the midst of “undertaking a corporate exercise”.

The details of the exercise, however, have not been finalised yet, it said in a brief filing with Bursa Malaysia.

“The company will make the necessary announcements to Bursa Malaysia Securities Bhd in the event we proceed with the said corporate exercise,” its filing read.

Key Asic shares shot up 10.5 sen or 63.64% to 27 sen, with a market capitalisation of RM240.39 million, after 248.78 million shares were traded. Year to date, the stock has jumped almost 234%.