By NST BusinessKUALA LUMPUR: Media Prima Bhd’s shares rose 7.2 per cent or six sen higher to 82 sen this morning, after global financial services firm Morgan Stanley Group bought more shares in the media company. Trading volume was high with some 12.21 million shares done at 10.57am, according to Bloomberg. “For Media Prima, as it is a mid-cap company, there is a potential for further uptrend in its share price. This is expected, especially when a foreign company keeps buying shares in a local company,” a remisier, who declined to be quoted, told theedgemarkets.com. Elaborating on this, the remisier said the allocation for small- and mid-cap public-listed companies (PLCs) announced in the Budget 2017 could be a driver behind Morgan Stanley’s interest in Media Prima.

Source: New Strait Times September 26, 2017 05:03 UTC