KUALA LUMPUR (Jan 26): JCY International Bhd (JCY) saw its share price gain by 4.17% in morning trade, with 9.53 million shares exchanging hands. In comparison, its 200-days average volume was only about 1.80 million.

The gain in momentum for JCY was seen after the announcement of the proposed renewal of authority in respect of the share buy-back granted by the shareholders in February last year.

“The proposed share buy-back will allow the company to purchase its own shares of up to 10% of the issued and paid-up ordinary share capital of the company,” it said in a filing with Bursa on Jan 19.

Since then, JCY’s share price has jumped by 15.7% from its closing of 54 sen in Jan 19. Year-to-date, the Group’s share price has also increased significantly by 28.57%.

In line with the mother’s share performance, JCY’s warrants have also been gaining momentum and interest from the market with one of its warrant, JCY-CX — which will expire on March this year — seeing a volume of 72.8 million shares, having jumped by 62.5% to 6.5 sen today. 

Other warrants including, JCY-C1, JCY-CY and JCY-CZ, have also performed with an increase of 15.91%, 23.53% and 32.35% to 25.5 sen, 21 sen and 22.5 sen respectively.