MALAYAN Flour Mills Bhd (MFM) joins the chorus of listed companies facing an uphill task in convincing their shareholders to cough it up for their cash calls.

After announcing a massive rights issue in the middle of last year, MFM’s rights and loan stocks were listed on Dec 28, 2018 at 14 sen and 28.5 sen, respectively.

However, the units were sold down extensively. At their trading close on Jan 4, the rights and loan stocks fell to 1.5 sen and one sen respectively.

This indicates that shareholders of the company are more interested in selling their allocations rather than exercising them.

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