Caely responds to unexplained 38 per cent share price rally

Caely Holdings Bhd.

KUCHING: Caely Holdings Bhd (Caely), primarily involved in the manufacturing and selling of women’s undergarments, has experienced some unusual market activity of late as it share prices rallied 38.46 per cent on Thursday from 78 sen to RM1.08.

Caely’s closing price of RM1.08 on Thursday was highest it has ever been since the stock’s debut in 2006 and far higher than the stock’s historical peak of 62 sen on 8, 2016.

The sudden rally prompted Bursa Securities Bhd (Bursa) to promptly issue an unusual market activity (uma) query on Caely’s stock on Thursday (January 4).

Caely responded to the query on Friday via a Bursa filing, citing that they are not aware of any corporate development in Caely or its subsidiaries, or rumours or reports that could have contributed to the uma.

They however declared that they have been actively exploring avenues to enhance its shareholders value and have been considering seeking professional advice to deliberate various options available to the company.

“However at this juncture, nothing has been confirmed or materialised.

“(And) in the event that a corporate exercise is proposed and deliberate by the Board of Directors, the company will make the necessary announcements in compliance with its listing obligation under the Bursa Securities LR once the proposal is approved by the Board of Directors,” said the reply.

Since the issue of Bursa’s uma query on Thursday, Caely’s share price has dropped 10.2 per cent to 98 sen on closing on Friday.

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Source: Borneo Post Online

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