were lower in early trade Wednesday as investors take profit after recent gains.
The manufacturer of automotive leather seat interior fell 2.65%, or 11 sen to RM4.04, making it one of the top losers on Bursa Malaysia. It has appreciated a whopping 160% so far this year.
Early this week, Pecca has proposed a diversification of its business to include healthcare and intends to acquire a 51% stake in Rentas Health Sdn Bhd for RM100mil.
The acquisition will be satisfied via RM50 million in cash and the issuance of 11.99 million new shares in Pecca at an issue price of RM4.17 per share.
The price-to-earnings of the acquisition is 8.53 times based on the profit guarantee and 51% stake to be acquired by Pecca.
Bursa wavers as new normal for KLCI below 1,500
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Pecca buys 51% stake in Rentas Health for RM100mil from MD s daughter
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