KUALA LUMPUR: Shares in Avillion Bhd were hotly traded this morning with over 103 million shares done, making it the most active counter on Bursa Malaysia.

       The hospitality group surged 44.74, or 8.5 sen to 27.5 sen at 9.15am. Year-to-date, it has risen a whopping 323%.

       A check on previous filings on Bursa Malaysia by Avillion were mostly related to its private placement.

       Last week, Avilion announced that the issue price for the second tranche of the placement comprising up to 126.66 million placement shares has been fixed at 12 sen per placement share.

       It said the issue price of 12 sen placement share represented a discount of approximately 7.62% to the five-day VWAP of Avillion shares up to and including Aug 6, being the last market day prior to the price-fixing date, of 12.99 sen per Avillion share.

       In June, Avillion announced that the placement of the first tranche comprising 2.083 million placement shares has been completed today following the listing and quotation of 2.083 million placement shares on the Main Market of Bursa Securities.

       In the financial year ended March 31, 2021, Avilion posted a net loss of RM13.4mil on revenue of RM21.3mil.