PETALING JAYA: Rev Asia Bhd, which recently sold its entire business to Media Prima Bhd for RM73.5mil, saw its shares surge by about 30% to close at 95 sen after the company declared a special dividend of 44 sen on Wednesday.

A volume of 42.12 million shares in Rev Asia changed hands yesterday.

On Tuesday, Rev Asia had completed the sale of its 70%-owned Rev Asia Holdings Sdn Bhd to Media Prima Digital Sdn Bhd for a cash consideration of RM73.5mil.

With the disposal of its core business, Rev Asia is now considered as a cash company pursuant to Bursa Malaysia’s Guidance Note 2.

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