Fajarbaru warrant sixth-biggest gainer on maiden trade

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KUALA LUMPUR (Oct 2): Fajarbaru Builder Group Bhd’s free detachable warrants (FAJAR-WB), rose as much as 18.5 sen to an intraday high 19.5 sen. The warrants, which have a reference price of 0.5 sen, were the sixth-biggest gainer across the exchange.

The warrants were listed today with Fajarbaru's rights shares.

At 3.02pm, FAJAR-WB changed hands at 18.5 sen. About 13 million units were traded.

In comparison, Fajarbaru shares fell 0.5 sen or 1% to 47.5 sen at 3.09pm. The FBM KLCI declined 3.99 points or 0.22%.

The company has undertaken a one-for-two rights issue, which comes with free detachable warrants.

The exercise involved 109.63 million new shares and an equal number of warrants.