Ecofuture Bhd, a Malaysian company that recycles palm oil waste, fell to its lowest level in almost three weeks in Kuala Lumpur trading after saying its shares will be delisted on June 27 because it failed to find a replacement sponsor.
Ecofuture Bhd has fixed the price of its proposed private placement of 22.41 million shares at 12 sen each, a 100 per cent premium to the five-day volume weighted average market price of its shares up to and including Nov 6, 2009.
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