Friday 29 Mar 2024
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KUALA LUMPUR (July 23): Shares of Excel Force MSC Bhd rose as much as 9.1% in active trade this morning, after a series of warrants were converted to shares in the past week.

At 10.35am, the counter was up 5 sen or 7.63% at 70.5 sen with 51.42 million shares changing hands. It was the most active counter on Bursa Malaysia this morning.

Last Monday (July 15), the financial services business solutions provider told Bursa Malaysia that 24.72 million new shares were issued at 34 sen per share after they were converted from warrants.

The next day, a further 11.28 million new shares were issued at 34 sen per share following warrant conversion.

Then, on Thursday, Excel Force said it is exercising its warrants to issue another 14.76 million new shares at 34 sen per share.

As a result of these warrant conversions, Excel Force now has an outstanding share capital of 492.22 million shares worth RM47.43 million.

Its market capitalisation now stands at RM322.4 million.

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