Malaysian Shares Rebound on Week's Open Mirroring Regional Gains; Catcha Digital Drops 3%

MT Newswires Live

Dec 23, 2024

Malaysian shares pared losses of the previous session to end in the green zone on Monday, mirroring gains in the broader Asia-Pacific region.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 4.79 points to end 0.30% higher at 1,596.20. The day range was between 1,592.57 and 1,601.90.

In corporate news, CBH Engineering (KLSE:CBHB) is planning to raise 83.4 million ringgit from its initial public offering (IPO) on the ACE Market of Bursa Malaysia. The mechanical and electrical engineering services provider's IPO entails a public issue of 298 million new shares, and an offer for sale of 188.1 million shares at 0.28 ringgit apiece via a private placement.

Meanwhile, shares of Catcha Digital (KLSE:CATCHA) closed about 3% lower after its unit iMedia Asia agreed to acquire a 60% equity interest in automotive digital media company Drive 2 Digital for 16.2 million ringgit in cash.

Shares of Johor Plantations (KLSE:JPG) gained about 2% on Monday's close as it appointed Tg. Langsat Development as a contractor for its Integrated Sustainable Palm Oil Complex project in Johor, Malaysia for 39 million ringgit.

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