Strong Debut By Sime Darby But Plantations, Property Fall - Sime Darby Bhd surged on the Main Market of Bursa Malaysia on Thursday after the demerger of Sime Darby Plantation and Sime Darby Property as separate entities from the holding company.
It opened 55 sen higher at RM2.40 while Sime Plantations added just one sen to RM5.60. However, Sime Darby Property fell 20 sen to RM1.30.
The adjusted price for Sime Darby was RM1.85 while for plantations it was RM5.59 and for the property unit it was RM1.50.
At 9.11am, the KLCI was up 1.63 points or 0.09% to 1,722.01. Turnover was 142.67 million shares valued at RM96.09mil. There were 146 gainers, 130 losers and 203 counters unchanged.
Sime Darby was up 48 sen to RM2.33 with 11.4 million shares done.
Sime Property fell 27 sen to RM1.23 with 1.74 million share.
Sime Plantations nine sen lower at RM5.50 with 1.02 million shares done.
The listings of Sime Darby Plantation and Sime Darby Property as separate entities from the holding company Sime Darby was to unlock sustainable value for the group and its investors.
Post-demerger, the leaner Sime Darby will focus on the group’s trading and logistics businesses.
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