GgoogleSG first seen 16 h ago, last 12 h ago, peak #1

Genting shares plunge most in 28 years

Original: genting

Malaysia's Genting saw its shares tumble by their sharpest drop in 28 years, according to the South China Morning Post. The selloff comes as the company announced a RM1.25 billion rights issue, which analysts at CIMB say could dilute earnings by around 18%. Investors reacted strongly to the combination of fresh capital raising and dilution concerns.

Why now: Investors are reacting to the shock share price plunge and dilution fears from the newly announced rights issue.

GentingCIMBMalaysiaSouth China Morning Post

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Evidence

• Shares in Malaysia’s Genting tumble by most in 28 years · South China Morning Post
• Genting’s RM1.25 Billion Rights Issue Could Dilute Earnings By 18%, Says CIMB · BusinessToday Malaysia

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