Sime Darby dividend share scrip loses appeal

Kuala Lumpur

WHEN the stock market plummeted last week, Sime Darby's dividend share reinvestment plan (DRP) appeared in danger of being outright dismissed by minorities after its share price dipped below the issue price of the new shares.

The selling tide of equities led by tanking global crude oil price pushed Sime lower to RM8.78 (S$3.31) on Dec 16, about 2 per cent less than the RM8.94 per new share issue price under the DRP.