YTL Power, YTL Land Rise After Edge Report of Possible Buyouts
YTL Power International Bhd. (YTLP) and YTL Land and Development Bhd. rose in Kuala Lumpur trading after the Edge newspaper reported that they may be bought out by parent YTL Corp. as part of a restructuring.
YTL Power climbed 4.9 percent to 1.93 ringgit at 9:47 a.m. local time, set for its steepest gain since Aug. 11. YTL Land jumped 10 percent to 1.17 ringgit, the most since Jan. 14. There is speculation that YTL may have hired banks to work on a possible “corporate exercise,” the Edge reported, without citing anyone.
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