GIIB (KLSE:GIIB) fixed the issue price for the private placement shares at 0.1518 ringgit per share, according to a Tuesday Malaysian bourse filing.
Shares surged about 32% in Wednesday's midday trade.
The manufacturer of rubber-related compounds plans to place up to 10% of its total issued shares.
The issue price represents a nearly 9.96% discount to the five-day volume-weighted average price of company shares up to May 11.
WiseTech Global's (ASX:WTC) share price is expected to come under pressure after DSV, one of its largest customers, decided to consolidate its air and sea transport management systems, transitioning away from CargoWise, Jefferies said in a Tuesday note.DSV confirmed its strategic shift from CargoWise to Schenker's Tango. However, this could be a multi-year journey, and DSV continues to migrate Schenker users into CargoWise.DSV spends about $150 million per year on CargoWise, representing around 9% of WiseTech's revenue and around 10% of earnings before interest, taxes, depreciation, and amortization (EBITDA) in fiscal 2027.The investment firm retained WiseTech Global's buy rating and AU$72 per share price target.
Ganfeng Lithium (SHE:002460, HKG:1772) canceled 551,250 stock options after failing to meet company performance goals for the fourth exercise period of its 2022 incentive plan.The cancellation was confirmed May 12 via the Shenzhen depository, according to a Wednesday filing with the Shenzhen bourse.The options were tied to fiscal years 2022 to 2025.Shares of the lithium miner fell 4% in recent trade on the Hong Kong bourse.
South Korea plans to increase safety inspections on its overseas direct purchase on concerns about the influx of hazardous products amid an increase in cross-border e-commerce and online sales, the Office for Government Policy Coordination said in a Wednesday release.Safety inspections will be raised to over 2,000 by 2028 from about 1,000 cases in 2025.The government plans to boost inspection by applying data and AI across the entire product safety lifecycle and shifting toward preventive regulation, the release said.The initiative outlines four core strategies and 16 key tasks that are aimed at improving public confidence, it said.