SOUTHERN STEEL BHD
KLSE (MYR): SSTEEL (5665)
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Last Price
0.57
Today's Change
-0.025 (4.20%)
Day's Change
0.57 - 0.575
Trading Volume
22,500
Details of Changes
Securities After Change
Transactions
| Ann. Date | Name | Details of Changes | Securities After Changes | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Date | Type | No. of Shares | Price | Direct (%) | Indirect (%) | Total (%) | ||||
Discussions
2 people like this. Showing 50 of 4,657 comments
If 70% stakes sell at USD100Mil (RM470Mil) = RM1.13 per share
If 70% stakes sell at USD200Mil (RM940Mil) = RM2.25 per share
It will trigger "General Offer" for the remaining share if Quek selling his 70% stakes.
2023-10-25 22:07
No idea...Anyway I think demand for steel will rise due to robust construction activities
2023-10-27 11:49
We refer to the query from Bursa Malaysia Securities Berhad (“Bursa Securities”) via its letter dated 26 October 2023 in relation to the Article Entitled: "Tycoon Quek's Hong Leong considering sale of Southern Steel stake, sources say" appearing in The Edge Malaysia dated 25 October 2023.
The Company, having made due inquiry with its Board of Directors, its major shareholder and all such other persons reasonably familiar with the matter, wishes to confirm that as of the date of this announcement, it is not aware of any agreement involving the Company entered into by the major shareholder which requires disclosure pursuant to Main Market Listing Requirements of Bursa Securities (“MMLR”).
The Company will make the necessary announcement to Bursa Securities when it becomes aware of any material development involving the Company, in compliance with its obligations under the MMLR.
Shareholders and investors are advised to exercise caution in trading in the shares of the Company.
2023-10-27 14:14
This type of announcement make us more convince there is something brewing.
2023-10-27 14:21
Last time when The Edge first reported that Boustead have intention to dispose BPLANT, Boustead also announce that it has not aware about any agreement entered by its major shareholder LTAT.
2023-10-27 14:26
Price up even company denied the news, meaning deal going to announce very soon.
2023-10-30 14:41
As per my own calculation, RM750mil is the entire company market cap.
RM750mil / 600mil share, approximately RM1.25.
2023-10-30 15:00
This counter is being cornered d, floating share is very minimal.
Once the news is confirmed, then immediately will shoot above RM1.
2023-10-30 15:02
Waooo, RM1.25 per share still got 50% upside from current share price 80sen now.
2023-10-30 15:09
Hong Leong Group looking to sell its 70% stake in steel manufacturer for as much as RM956 million.
PETALING JAYA: Southern Steel Bhd’s shares surged 31.25% or 18 sen on reports that billionaire Quek Leng Chan’s Hong Leong Group is considering selling its stake in the steel products manufacturer for as much as US$200 million (RM956 million).
It hit an intraday high of 74 sen before paring its gains and closing at 73.5 sen with 1.32 million shares traded. People familiar with the matter said the Quek-controlled Hong Leong Group is working with advisers on the planned divestment of its 70% stake, according to a Bloomberg News report.Should the deal go through at the higher range of the valuation, it would be more than double the company’s current market value of RM438.29 million. headtopics.com
Additionally, they said the conglomerate and its advisers have reached out to companies within the industry and financial investors in gauging their interest. Apart from Hong Leong Manufacturing Group Sdn Bhd and Signaland Sdn Bhd, which are members of Hong Leong Group Malaysia, its other shareholders include the founding business families based in Penang, according to its website.
Southern Steel was listed in in 1993 on the Kuala Lumpur Stock Exchange, now known as Bursa Malaysia.
2023-10-31 09:18
Tan Sri Quek want to sell 70% SSTEEL at RM956Million. This equal to RM2.30 per share. Now share price only 80sen, still got 3x upside.
2023-10-31 09:19
In that case, who wanna buy it if he sell at RM956 m as it's equivalent to RM2.30 per share 😅
2023-10-31 13:21
even though SSteel is not so profitable, but it's able to make more than RM400 mil per quarter
2023-11-01 14:40
@Cnlim, this is the fun part of being in the stock market.
When topic is hot, we add oil and fire into it, make it more hot.
When topic is cold, we put it into freezer quietly.
2023-12-06 13:30
Can you smell something is brewing?
USD200mil proposal is going to reveal soon...
2023-12-06 16:29
Hong Leong started disposing .. I guess they found a buyer to buy over SSTEEL alrdy
2023-12-21 09:47
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