Genting, Resorts World shares surge
12 Apr 2007
MALAYSIA – As reported by the Edge Daily: "Genting Bhd and Resorts World Bhd share prices surged in heavy trading yesterday after their one-into-five share split to make the shares more accessible to smaller investors took effect.
"Genting's share price rose as high as RM9.95 in early trade, which was RM1.10 or 12.4% above the reference price of RM8.85. It closed at RM9.25, up 40 sen with 11.55 million shares traded.
"Resorts rose to a high of RM4.06, up 12.15% or 44 sen from its reference price of RM3.62. It ended the day at RM3.80, up 18 sen with 17.99 million shares done.
"…Analysts said the share split of one 50-sen share into five 10-sen shares had made the counters more accessible to retail investors…"