Genting 22.87% Crash: What the RM1.25B Rights Issue Means for You
Genting's biggest drop since 1998 hit limit down. Here is who it affects and what to check before the rights deadline.
- 01/05
Genting just fell as much as 22.87% in one session Biggest drop since 1998. Bursa even paused trading. If you hold the stock, read this before you panic. - 02/05
RM1.25B rights issue size RM1.25 billion is the number to remember Genting is raising this through a rights issue. The share touched RM1.45 on 12 October. - 03/05
Official notice ✦CIMB flagged the dilution risk The analyst note says earnings could drop 18% if the rights issue completes. That is the number to watch, not the headline. - 04/05
Three things to check today Open your broker app or i-Akaun Find your Genting lot size and cost Read the Bursa announcement for next steps
You can subscribe to the rights or let them lapse; there is no obligation to act on the day of the announcement. Check your position first. - 05/05
Bottom line One drop is not a loss you control A 22.87% drop stings, but a rights issue is the company's call. Check what you hold, read the Bursa filing, and let your fund manager do the deciding.
Questions people ask
What is a rights issue?
A rights issue lets a company sell new shares to existing holders first. You can buy them at a set price or let the right expire. It usually dilutes your ownership.
Do I need to do anything if I hold Genting through EPF?
No. The EPF fund manager decides whether to subscribe. Your Akaun Persaraan is not affected by a single stock's price move.
Why did Bursa suspend Genting trading?
The share hit limit down, which prompted an IDSS (Investor Alert / Designated Stock Suspension) by Bursa. Bursa will announce when trading resumes.
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