KUALA LUMPUR: Short selling in electronics component maker Salutica Bhd's shares were suspended for the day after its share price fell 26 per cent with news that its suit for alleged patent infringement against Apple companies was struck out.
Salutica today announced that the court allowed Apple South Asia Pte Ltd on July 4 to strike out its claims of alleged patent infringement.
In 2022, Salutica filed a legal suit against Apple Malaysia Sdn Bhd and Apple's Singapore-based subsidiary, Apple South Asia.
Salutica's stock was down 16 per cent to 57 sen a share, giving it a market capitalisation of RM243 million.
Bursa Malaysia said short selling will be activated the next trading day, on July 9, 2024 at 8.30 am.