With that done, they let the market the free-play to trade. Many saw profits as there was a pre-push of 17 sen yesterday when the shares were cum. So they sold. Right now on heavy volume of 1,730,000 shares it is trading at RM1.66 for a 7 sen gain.
As today is the first day of its ex, I think YTL will conduct a mopping up operation to buy up all those weak buyers off the trading radar before the 'real' price of the market can be fathom.Also Treasury buying may come in sometime today or tomorrow.
My best guess is it will yoyo all day before settling down at possibly RM1.68.
(PS: How true! It settled at RM1.68 when the last purchase was 20,000 shares clinching a 9 sen gain for the day. Now let us watch the RM1.75 marker tomorrow.)
I think many who made money has left. After all tomorrow is another day....
Those who are holding will likely be long term investors and institutional buyers.
So what is in store?
This, we should ask Francis as he said his shares are undervalued. At the current price, it is still lower than the original 2010 peak price of RM8.60
Looking at the further horizons, I think cash rich YTL may be in for some strategic acquisition.
If not, I am sure a bonus issue may be somewhere in the pipeline or a capital repayment,perhaps?
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