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Stock With Momentum: THETA Edge

TheEdge Mon, Jul 22, 2019 10:10am - 2 months ago


THETA Edge Bhd (+ve)

THETA Edge Bhd (fundamental: 0.8/3, valuation: 0.9/3), which made it into our Stocks with Momentum list last Friday for the first time this year, closed 2.06% or one sen higher at 49.5 sen after 3.83 million shares were traded — compared with the average 122,457.5 shares seen in the past 200 days.

An English daily reported last month that Dagang NeXchange Bhd and Singapore-listed Silverlake Axis Ltd were among the front runners bidding for the IT company.

Silverlake’s offer reportedly entailed a full buyout and a general offer, but Theta’s board turned down the offer.

Theta’s board clarified that it was not privy to the matter and hence had neither deliberated nor decided on it. “Decisions relating to any proposals or bids pertaining to equity stakes in Theta are decided at the shareholder’s level and not at Theta,” it added.








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