[KUALA LUMPUR] Shares of Genting and Genting Malaysia (Genm) rallied on Tuesday (Oct 14), becoming one of the most actively traded stocks on Bursa Malaysia. This is after the leisure and gaming group announced plans to take Genm private in a RM6.7 billion (S$2.1 billion) deal.
Trading resumed after Monday’s suspension, with both counters posting sharp gains in early dealings. GENM opened 9.8 per cent higher at RM2.35 from its previous close of RM2.14, briefly rising to RM2.36 before easing to RM2.31. More than 119 million shares changed hands within the first hour of trade.
Parent company Genting climbed nearly 5 per cent to RM3 at the opening bell, with about 18.7 million shares traded.
