KUALA LUMPUR: Shares of Thong Guan Industries Bhd rose to a high of RM2.45 on Tuesday after Eastspring Investments Bhd emerged as a substantial shareholder with a 5% stake.

       At 11.30am, it was trading at RM2.43, up one sen. There were 84,500 shares done at prices ranging from Rm2.43 to RM2.45.

       A filing with Bursa Malaysia on Monday, the fund management company had acquired 18.95 million shares on Aug 12.

       Prudential PLC has an indirect interest in the acquisition of the stake.

       Thong Guan operates in two segments including plastic products and food, beverages and other consumable products.