Quick take: Ancom Logistics shares continue uptrend, adding 23%

TheStar Mon, Jul 20, 2020 09:59am - 3 years View Original


KUALA LUMPUR: Shares in Ancom Logistics Bhd continued to attract strong trading interest in early trade Monday.

The ACE Market-listed counter added 23.53%, or 10 sen to 52.5 sen with 82.3 million shares done.

Last week, On Thursday, Ancom Logistics said it is acquiring S5 Holdings Inc from its existing shareholders, namely S7 Holdings Sdn Bhd, Merrington Assets Ltd, MY EG Capital Sdn Bhd and Avocat Sdn Bhd.

The price is to be determined later after an independent valuation is done on S5. Ancom Logistics will issue new shares to the vendors as payment, the company said.

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