Malacca Straits Acquisition’s (OTCMKTS:MLACU – Get Free Report) quiet period will end on Wednesday, January 22nd. Malacca Straits Acquisition had issued 21,000,000 shares in its initial public offering on December 13th. The total size of the offering was $210,000,000 based on an initial share price of $10.00. During Malacca Straits Acquisition’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Malacca Straits Acquisition Stock Performance
Shares of MLACU opened at $10.02 on Wednesday. Malacca Straits Acquisition has a 1 year low of $10.00 and a 1 year high of $10.05. The stock’s fifty day moving average price is $10.33 and its two-hundred day moving average price is $10.51.
Institutional Trading of Malacca Straits Acquisition
A hedge fund recently bought a new stake in Malacca Straits Acquisition stock. Tuttle Capital Management LLC acquired a new stake in shares of Malacca Straits Acquisition Company Limited (OTCMKTS:MLACU – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 40,000 shares of the company’s stock, valued at approximately $401,000. Malacca Straits Acquisition makes up approximately 2.4% of Tuttle Capital Management LLC’s portfolio, making the stock its 23rd largest position.
Malacca Straits Acquisition Company Profile
Malacca Straits Acquisition Company Limited does not have significant business. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media, food processing, renewable energy, and healthcare industries.
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