KUALA LUMPUR (Sept 13): Metal parts manufacturer BSL Corp Bhd, responding to an unusual market activity (UMA) query by Bursa Securities, said it is in the midst of negotiation to buy into Singapore-based SD Unify Pte Ltd.
SD Unify is involved in the manufacturing and repair of semiconductor foundry equipment.
In a filing today, BSL Corp referred to the memorandum of understanding (MoU) dated Sept 6 it signed with SD Unify's owners, Jerry Tan Gim Moh and Tan Hoon Bee.
"Both parties of the MoU are in the midst of negotiation on the terms of the definitive agreement," it said.
Shares of BSL Corp hit limit up today. The counter surged to a new record high of RM1.92, up 29.73% or 44 sen from yesterday. At this price, the group is valued at RM188.16 million.
The metal parts manufacturer was the third highest gainer on the bourse, with 23.34 million shares changing hands.
Year to date, the counter has jumped by 419% from a mere 37 sen.
This is the second UMA query issued to the group this year. It received a similar query on Jan 7, following a steep rise in its share price and trading volume.
In its filing today, BSL Corp also noted that it on Sept 3 proposed a share split involving a subdivision of every one existing share into two shares.
The group also proposed a private placement of up to 58.8 million new shares, representing up to 30% of the total number of issued shares, to independent third-party investors to be identified later.
Other proposals included a bonus issue of up to 127.4 million free warrants on the basis of one warrant for every two shares held, and an employees' share option scheme involving up to 15% of the total number of issued shares.