Bursa freezes upper limit for Toyo Ventures stock, warrants

Bursa freezes upper limit for Toyo Ventures stock, warrants
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KUALA LUMPUR (Dec 31): Bursa Malaysia Securities has maintained the upper limit for the Toyo Ventures Holdings Bhd’s shares and its warrants (Toyoven-WB), after they hit limit-up over the two consecutive days.

The regulator said the upper limit price for the shares of Toyo would be maintained at RM1.69, and for the warrants at 79.5 sen.

Shares of Toyo Ventures surged 30% or 39 sen to RM1.69 with some 732,600 shares done, valuing the group at RM180.83 million.

Meanwhile, its warrants soared 60.61% or 30 sen to 79.5 sen. It saw some 4.23 million shares done.

This means the freeze on the upper limit of the prices for the stocks will take effect when the market reopens on Monday (Jan 4, 2021).

On Tuesday (Dec 29), Toyo Ventures announced it had executed the build, operate and transfer contract with Vietnam’s Ministry of Industry and Trade for the development of the US$3.23 billion Song Hau 2 Thermal Power Plant project, which was first announced in 2008.

Toyo Ventures said its wholly-owned Toyo Ink Group Bhd and Toyo Ink’s wholly-owned unit Song Hau 2 Power Co Ltd had executed the contract, which comes with a government guarantee.

S Kanagaraju