KUALA LUMPUR: Electronics manufacturing services firm Cape EMS Bhd saw a rebound in its share price after a period of significant decline due to persistent selling pressure.
At the time of writing, Cape EMS saw an increase of 6.5 sen, or 16.05 per cent, reaching 47 sen, valuing the company at RM476.52 million.
The stock, which opened at 40 sen, reached an intraday high of 48 sen and a low of 34 sen during today's trading session.
Trading volume surged to 463.5 million morning trade today, making it the most actively traded counter of the day. Cape EMS has faced heavy selling pressure since July 22, leading to a decline of 59.4 per cent over the past two weeks.
It was reported that during this period, Cape EMS managing director and chief executive officer Christina Tee Kim Chin sold over 17.11 million shares.
On August 1, Tee received 20.4 million shares from her sister, Kim Yok, increasing Tee's stake to 38.38 per cent and reducing Kim Yok's stake to 4.75 per cent, removing her as the substantial shareholder.