Wednesday, April 30, 2008
Lion Industries Corp disposed Parkson Holding Berhad
On one hand, Parkson Holding Berhad buys back shares regularly, on the other hand Lion Industries Corp disposed 7.5 million shares of Parkson Holding Berhad. The disposal was made on 23 April 2008 in the open market. On the previous day, 22 April 2008, Parkson Holding Berhad bought 1.2 million shares, paid in the range of $6.25 to $ 6.60. I am getting a confusing message, is the company undervalued or not undervalued? If it is undervalued, why the disposal? Or something else? Parkson Holding Berhad has promising growth prospects but why creating unnecessary doubts with this kind of actions? It is still on my buy list but a bit disappointed.