Tuesday 19 June 2012

Pharmaniaga Berhad - Freezing of price?

Not quite sure what happened to the trading price of Pharmaniaga but the share price was capped at RM8.47 after it experienced limit up for two consecutive days. I did not see any company announcement nor announcement made by the exchange.

The could be due to freezing of price imposed by the Bursa.

Freezing of Price
"Where an Upper Limit Price or Lower Limit Price is reached on a market day and is followed by another Upper Limit Price or Lower Limit Price, as the case may be on the next market day, the Exchange may maintain the trading price at the Last Done Price of the previous market day (“the said Last Done Price”) for such period as specified by the Exchange." Item 5.4, Chapter 5 of Bursa Trading Manual

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