KUALA LUMPUR (May 8): Shares and warrants of Kanger International Bhd continued to be traded actively today as the counters had been the last few days.
At 12.06pm today, Kanger rose 2 sen or 8.2% to RM26.5 sen. The second most active counter saw trades of 62.1 million. It had earlier risen to a high of 27 sen.
Rising in tandem were its warrants Kanger-WA. The most active counter gained 0.5 sen or 4% to 13 sen on 62.9 million units.
“We noticed Kanger shares and warrants were very active the last few days, but we’re not sure why,” a dealer told theedgemarkets.com over the telephone.
He noted market perception has held Kanger more favourably given its bamboo flooring business seen to be “genuine” as compared to most China-based listed companies that have been perceived with “stigma”.
On Wednesday, the firm’s shares and warrants were also actively traded but on a decline.
The fall on warrant price could be an indicator that investors were taking profit on the warrants, which were issued free to shareholders through a bonus issue of warrants on the basis of one warrant for two shares held.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)