IJM shares rise on news of RM500m investment on Menara Prudential
22 Nov 2017 / 11:42 H.
PETALING JAYA: IJM Corp Bhd, which is acquiring TRX City Sdn Bhd’s subsidiary Fairview Valley Sdn Bhd (FVSB), saw its share price rise 1.30% this morning.
At 10.54am, its share price rose 1.30% or 4 sen to RM3.11 with a total of 1.03 million shares traded. The stock closed unchanged at RM3.07 yesterday with a total of 3.12 million shares traded.
Yesterday, IJM signed a share sale and purchase agreement to acquire 100% equity in FVSB, which will see IJM investing RM500 million to own, develop and build Menara Prudential in Tun Razak Exchange.
The 27-storey purpose-built commercial building will be Prudential’s new headquarters and house all of its life insurance and asset management businesses under one roof.