Advance Synergy's shares rise 3.12% on news of its Helenium stake sale
07 Aug 2018 / 12:04 H.
PETALING JAYA: Advance Synergy Bhd’s share price rose 3.12% this morning on news of the proposed disposal of its 40% stake in Helenium Holdings Ltd.
At 11.35am, its share price was 3.12% or half sen higher at 16.5 sen with 12.54 million shares traded.
The 40% stake, which is held by its indirect unit Synergy Realty Inc, will be sold to EEH Ventures Ltd for RM46.64 million. The group said the proposed disposal would enable it to realise cash and have ready capacity for any high potential investment or acquisition.
Incorporated in December 2010 in the British Virgin Islands, Helenium is principally involved in property investment, management and rental of property.