CIMB, Olympia shares up on Jupiter Securities deal

PETALING JAYA: CIMB Group Holdings Bhd's share price rose 0.15% this morning following the announced acquisition of the entire stake in stockbroking firm Jupiter Securities Sdn Bhd for RM55 million cash.

As at 10.52am, CIMB's share price stood at RM6.76 with 3.42 million shares changing hands. It has a market capitalisation of RM61.1 billion.

CIMB told the stock exchange yesterday that its subsidiary CIMB Group Sdn Bhd has signed a conditional share purchase agreement with the shareholders of Jupiter Securities for the proposed acquisition. Jupiter Securities is a subsidiary of Olympia Industries Bhd.

Olympia, which was among the most active stock this morning, gained 10.35% following the announced acquisition.

At 11.08am, the counter rose 1.5 sen to 16 sen, with a market capitalisation of RM168.9 million. It was the second most actively traded counter, with some 85.7 million shares changing hands.