This article first appeared in The Edge Financial Daily on February 12, 2018

Pansar Bhd (-ve)
SHARES in Pansar Bhd (fundamental: 1.45/3, valuation: 1.4/3), which triggered our momentum with algorithm last Friday for the second time this year, closed 6.5 sen or 11.61% higher at 62.5 sen with a market capitalisation of RM172.2 million.

It saw 11.22 million shares traded, higher than its 200-day average volume of 195,070.5 shares. Pansar is primarily engaged in the supply and distribution of marine and industrial products such as the power generating and water pressure systems. It also designs, supplies and installs air-conditioning units and fire protection systems.

Last month, Pansar proposed a private placement of 10% of its shares in tranches to raise RM11.76 million for capital expenditure.

On Feb 8, it fixed the issue price of the placement shares at 42.7 sen per share.

The issue price of the placement shares of 42.7 sen represents a discount of approximately 9.71% to the five-day volume weighted average market price of Pansar shares up to and including Feb 7.