Sime Darby dividend share scrip loses appeal
Its shares hit RM8.78 on Dec 16 - 2% less than the RM8.94 new share issue price
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
