Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (March 4): Dataprep Holdings Bhd’s share price spiked past RM2 for the first time today to reach an all-time high of RM2.27 in morning trade on Bursa Malaysia after the IT firm said it had been continuously working to secure new business opportunities to enhance the value of the company.

At 10.58am, Dataprep's share price had pared gains at RM2.10, after rising as much as 43 sen or 23.37% to RM2.27 earlier, with some 50 million shares changing hands.

At RM2.10, Dataprep had a market value of about RM1.27 billion based on the company’s 602.6 million issued shares.

On Tuesday, Dataprep said in a filing with Bursa — in response to the bourse operator and regulator’s usual market activity (UMA) query a day earlier — that Dataprep "has been continuously working for new opportunities to enhance the value of the company".

Bursa on Monday issued the UMA query over a sharp rise in the price and volume of Dataprep shares recently, according to Dataprep’s filing on Bursa’s website.

On Tuesday, Dataprep said it was not aware of any of factors that may have contributed to the UMA other than the company's announcements dated Feb 16 and 23 in relation to its proposed private placement, and the announcement on Feb 15 on the proposed acquisition of 510,000 shares representing a 51% stake in Ridaa Associates Sdn Bhd.

Dataprep had on Dec 10, 2020 initially announced the acquisition of the 51% stake in RIDAA, the businesses of which include selling multimedia goods and hardware and undertaking activities under the Network Facility Provider License, Network Service Provider Licence and Applications Service Provider Class Licence issued by the Malaysian Communications and Multimedia Commission.

According to Dataprep’s Bursa filing then, the RM3 million stake acquisition from  Rohzan Abdul Rahman and Badrul Ilahan Abd Jabbar is part of the company’s plans to expand its core business by adding another revenue stream which is complementary in nature and will bring synergistic benefits to the group.

Dataprep had completed the acquisition on Feb 15, 2021, according to the company’s bourse filing on that day.

Meanwhile, Dataprep’s proposed private placement involves 138.6 million new shares in the company to independent third party investors at an issue price to be determined later, according to its exchange filing on Feb 16, 2021.

Today, Dataprep said Bursa had approved the listing of the 138.6 million placement shares.

Edited ByChong Jin Hun
      Print
      Text Size
      Share