SIG Gases Bhd (+ve)
TRADING of shares in SIG Gases Bhd (fundamental: 0.85/3, valuation: 1/3) triggered our momentum algorithm yesterday for the third time this year.

The stock closed 1.5 sen or 1.57% higher at 97 sen yesterday, with 1.2 million shares done, compared with an average of 174,381 shares recorded in the past 200 days.

On March 25, the industrial gas solution and service provider said it received an offer from Air Liquide Malaysia Sdn Bhd to acquire its entire equity interest in Southern Industrial Gas Sdn Bhd (SIGSB) for RM226.59 million cash.

The proposed acquisition includes SIGSB’s 40% minority stake in Iwatani-SIG Industrial Gases Sdn Bhd.

The group said the consideration is subject to the adjustment less bank borrowings plus cash and bank balance. The offer will remain open for acceptance until March 29.