AirAsia shares down after Bursa dismisses PN17 appeal

15-Jan-2022 Intellasia | AFP | 5:02 AM Print This Post

AirAsia Group Bhd’s shares on Bursa Malaysia went down in the early session today, as the group announced that its application to extend the relief period from being classified as a Practice Note 17 (PN17) company has been dismissed by the securities exchange.

At 11.20am, the counter, which emerged as the most actively traded stock with 277.01 million shares changing hands, shed 8.5 sen or 11.41 per cent to 66 sen.

In a filing with Bursa Malaysia on Thursday, it said prior to the dismissal, the group was required to re-assess its condition at the expiry of the relief period pursuant to Bursa’s circular on Additional Relief Measures dated April 16, 2020, and February 17, 2021.

“Additional relief measures were announced on April 16, 2020, whereby Bursa Malaysia said companies that triggered any of the suspended criteria between April 17, 2020 and June 30, 2021, would not be classified as a PN17 or GN3 company for 12 months.

“This aims to provide a greater flexibility to the affected listed companies to focus on sustaining their businesses and operations and regularise their financial condition thereon,” it said.

Meanwhile, Bursa Malaysia announced that the short-selling under intraday short-selling (IDSS) and proprietary day traders (PDT short sale) for stock AIRASIA (5099) has been suspended for the rest of the day as the last done price of the approved securities dropped more than 15 sen from the reference price.

“The short-selling under PDT and IDSS will only be activated the following trading day, Monday, January 17, 2022, at 8.30am,” it said.

https://www.malaymail.com/news/money/2022/01/14/airasia-shares-down-after-bursa-dismisses-pn17-appeal/2035089

 

Category: Malaysia

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