KUALA LUMPUR (Sept 9): Shares in bus transport company GETS Global Bhd jumped to an all-time high in morning trade on Bursa Malaysia today after the group announced its plan to venture into the glove-making bandwagon with the emergence of a new substantial shareholder, Teong Lian Aik.
At the time of writing, GETS Global — the third active stock across Bursa — had jumped as much as 36.84% or 24.5 sen to a record high 91 sen.
This brought the market value of the group to RM114.66 million, with 98.7 million shares changing hands.
According to the company’s announcement on Bursa yesterday, it plans to venture into manufacturing, sale and marketing of gloves as well as other related activities.
The group also said it had proposed a private placement of 158 million new shares at 55 sen per share to its major shareholder in order to fund the new venture.