Iskandar Waterfront City gains 0.65% after losing ground yesterday
06 Jul 2017 / 11:35 H.
PETALING JAYA: Iskandar Waterfront City Bhd (IWC), which closed 1.9% lower yesterday after announcing a delay in its restructuring plans, saw its share price rise 0.65% this morning.
At 11.03am today, the stocks gained one sen to RM1.56, with some 2.93 million shares traded. Its market capitalisation stood at RM1.3 billion.
IWC told the stock exchange yesterday that it agreed to give its holding company Iskandar Waterfront Holdings (IWH) another 60 days, or until Sept 4, 2017, to execute definitive sale and purchase agreements under a proposed restructuring exercise.
IWC said the extension is to enable the company to negotiate in good faith and execute the agreements with the vendors.