Bloomberg News

UOA Development Stock Has Biggest Gain Since June Listing Debut

October 13, 2011

Oct. 13 (Bloomberg) -- UOA Development Bhd. jumped the most since its June debut after Affin Investment Bank Bhd. said investors should buy the Malaysian property group because “value has emerged” following its recent slide.

The stock jumped 13 percent to 1.45 ringgit at 12:27 p.m. local time, set for its steepest gain since June 8. That’s its third day of gains. UOA is down 44 percent from the issue price of 2.60 ringgit paid by institutional investors for its initial share sale.

To contact the editor responsible for this story: Chan Tien Hin at thchan@bloomberg.net


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