KUALA LUMPUR: Shares of Plastrade Technology Bhd fell 11% in early trade Thursday on its plan to diversify into information and communications technology (ICT) via acquisition.

The counter shed 11.76% , or two sen to 15 sen in a low volume of 20,600 shares done.

Plastrade plans to buy 100% equity interest in EA Global Integrated Sdn Bhd for RM8mil to be satisfied via a combination of new ordinary shares in the company and cash.

The company believes that the proposed acquisition is an attractive business proposition as the ICT industry is growing and thus, it is expected to provide the group with good long-term viability and growth opportunity.

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