Grand-Flo falls 2.33% on news to diversify into construction business
11 Apr 2018 / 12:10 H.
PETALING JAYA: Grand-Flo Bhd's share price fell half a sen or 2.33% this morning, following its plans to diversify into the construction business via the acquisition of the remaining 49.9% stake in property firm Innoceria Sdn Bhd for RM21.9 million.
At 11.20am, the stock stood at 21 sen with 222,500 shares changing hands. It has a market capitalisation of RM99.5 million.
The group, which is currently involved in the enterprise data collection and collation system business as well as property development, said its plan to diversify into the construction industry will complement its property development business.