White Samurai Rescue Plan falls through, leading to rise in stock price?

PN17 company Sarawak Cable (SCABLE, 5170, main board industrial stock) fails to reach an agreement with White Samurai on the rescue plan, causing the stock price to drop nearly 26% at first, but experiences a major turnaround towards the end, rising 3.23%.

Investors may actually welcome the collapse of the agreement, potentially bringing in a better White Samurai and prompting everyone to enter the market.

Or perhaps the major shareholders intend to sell off stocks, making significant purchases at the end to take advantage of the opportunity, but this remains uncertain.

The company announced yesterday on Bursa Malaysia that it could not reach an agreement with White Samurai Serendib Capital on the exclusive company relationship stipulated by both parties by the end of 2023.

Earlier, Sarawak Cable confirmed that the British investment institution Serendib Capital will become the white knight to rescue the company, injecting 0.250 billion ringgit to help the company restructure.

The news of the rescue initially caused the stock to surge to a high of 48 cents, but it has since slipped in intense volatility.