Bursa Malaysia Stock Watch
Zelan up 9% after US-based fund buys 5% stake
kltrader
Publish date: Wed, 04 Aug 2010, 05:19 PM
kltrader
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KUALA LUMPUR: Shares of Zelan Bhd rose 9% in late afternoon trade on Wednesday, Aug 4 after US-based fund Grantham, Mayo, Van Otterloo Co (GMO) emerged as a substantial shareholder with a 5.02% stake.
At 4pm, it was up 5.5 sen to 66 sen with 8.8 million shares done.
A company filing with Bursa Malaysia showed the global investment management firm had acquired 28.28 million shares as of Aug 2.
GMO is a private partnership and as at June 30, 2010, it managed more than US$94 billion in client assets, US$32 billion of which was in asset allocation strategies.
At 4pm, it was up 5.5 sen to 66 sen with 8.8 million shares done.
A company filing with Bursa Malaysia showed the global investment management firm had acquired 28.28 million shares as of Aug 2.
GMO is a private partnership and as at June 30, 2010, it managed more than US$94 billion in client assets, US$32 billion of which was in asset allocation strategies.
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