Prestar Resources gains ground on listing plans

PETALING JAYA: Shares of Prestar Resources Bhd continued to rise this morning, following its plans to list its 51%-owned subsidiary Tashin Steel Sdn Bhd on the ACE Market of Bursa Malaysia.

At 10.56am, the shares went up 0.81% or one sen, trading at RM1.25 sen with some 495,700 shares changing hands. It has a market capitalisation of RM242.7 million.

Yesterday, Prestar said the details of the proposed listing have yet to be determined and it will made a detailed announcement once the listing structure is finalised and approved.

Tashin Steel has appointed M&A Securities Sdn Bhd as the principal adviser for the listing exercise.