Expiring MPAY-WA Attracts Interest on Yvonne Chia Taking Up Stake

Written by Jess Lu

The price and volume of ManagePay Systems Berhad surged recently after it announced that former Hong Leong Financial Group Bhd CEO Datuk Yvonne Chia will be subscribing for 20 million shares of the company in a special private placement.  This placement entails an issuance of up to 175.71 million shares, which represents 30% of ManagePay existing issued and paid-up share capital to third party investors at an issue price of 23 sen.  Other notable investors taking up stakes include Fajarbaru Builder Group Bhd chairman Tan Sri Kuan Peng Ching @ Kuan Peng Soon.  This placement is subject to ManagePay’s shareholders’ approval at the company’s extraordinary general meeting scheduled on July 14, 2015.  However, the global stock market rout earlier this week affected the share price ascend.  At the close of trading on 8 July, ManagePay closed at 29 sen while its warrant MPAY-WA ended trading at 7.5 sen.

To read the rest of the article, you must Login