Serba Dinamik shares up 2.42% on plan to buy UAE firm
13 Apr 2018 / 11:56 H.
PETALING JAYA: Serba Dinamik Holdings Bhd's share price jumped 8 sen or 2.42% this morning, after it acquired 49% of UAE-based pumps supplier Al Sagar Engineering Group LLC and Al Sagar National Establishment (Al Sagar) for RM10.5 million cash.
At 11.30am, the stock stood at RM3.38 with 801,700 shares changing hands. It has a market capitalisation of RM4.8 billion.
The acquisition is part of the group's strategy to expand its business into asset ownership model which further enables it to gain access to projects and markets which are complementary to its operations.