KUALA LUMPUR: C I Holdings Bhd said a “just-concluded negotiation with parties regarding a possible investment” may have resulted in a sharp rise in its share price and volume recently.

The company is expected to make an announcement to Bursa Securities on the deal within the next few days.

It was responding to Bursa’s queries which had yesterday slapped the company with an unusual market activity query over the recent rise in its share price and volume.

“Apart from (this), we are not aware of any rumour or report concerning the business and affairs of the company that may account for the trading activity,” it said in a filing with Bursa yesterday. 

C I Holdings (fundamental: 1.85; valuation: 0.6) is involved in the manufacturing and trading of water taps, showers, and other plumbing fittings.

The stock started its price rally last week after it returned to the black in its third financial quarter results announced last Wednesday. It traded at RM2.35 on May 6.

C I Holdings shares closed down 0.69% at RM2.89 yesterday, with 3.33 million share traded, giving it a market capitalisation of RM466.56 million. 

The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to www.theedgemarkets.com for more details on a company’s financial dashboard.

This article first appeared in The Edge Financial Daily, on May 12, 2015.