KPS rises 1.96% on saying aye to govt’s bid to acquire Sprint

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KUALA LUMPUR (July 3): Shares of Kumpulan Perangsang Selangor Bhd (KPS) rose 1.96% at mid-morning today, after the firm gave the green light to the government’s proposed acquisition of all securities of Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint Holdings) in Sprint.

KPS owns a 20% stake in Sprint Holdings, which wholly owns highway operator Sprint.

At 11.10am, KPS added 2 sen to RM1.04 for a market capitalisation of RM558.88 million.

Last week, KPS said the Ministry of Finance Inc (MoF Inc) has made an offer to buy Sprint for RM1.98 billion, less debts.