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Categories
| US fund buys 13.5m Media Prima shares |
| Business & Market 2009 | |||
| Written by Joseph Chin | |||
| Thursday, 02 July 2009 19:49 | |||
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The Chicago-based fund acquired 5.99 million shares on June 22 and 460,600 shares the next day. It then bought 3.26 million shares on June 24 and 3.8 million shares the next day. After the acquisition of the 1.58% stake, its total shareholding in the media company increased to 96.42 million shares or 11.29%. The share price was trading between RM1.16 and RM1.21 during the period. According to Bloomberg, of the 12 analysts polled, four had a buy call, three a hold and five sell. The latest was from Maybank Investment Equities Research on June 29 which had a sell recommendation with a target price of RM1. In contrast, RHB Research had an outperform on Media Prima with a target price of RM1.53 on June 22.
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