KUALA LUMPUR (Dec 18): Perak Corp Bhd's share price soared as high as 61 sen in morning trade today, up 17.5 sen or 40.23% from its last closing price of 43.5 sen, following its announcement of a debt restructuring plan.
At 9.34am, the stock had pared some gains to settle at 53.5 sen, still up by 10 sen or 22.99%. This marked its highest since May 6, 2019, when the counter closed at 55 sen.
Some 1.93 million shares changed hands, over 50 times its 200-day average trading volume of 35,943.5 shares.
Perak Corp's gains landed it on the second place of Bursa's list of top gainers so far today.
Yesterday, the group announced a debt restructuring with its creditors involving cash settlements worth over RM220 million, issuance of its shares worth over RM30 million, a proposed debt waiver amounting to RM544.55 million, and future settlements by the group's turnaround plan in the ordinary course of business.