Malacca Straits Acquisition Company Limited’s (OTCMKTS:MLACU) Quiet Period To End Tomorrow

Malacca Straits Acquisition’s (OTCMKTS:MLACU) quiet period will expire 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, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. 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 OTCMKTS:MLACU opened at $10.04 on Tuesday. The firm has a 50 day moving average of $10.30 and a 200-day moving average of $10.49. Malacca Straits Acquisition has a 12 month low of $10.00 and a 12 month high of $10.05.

Institutional Investors Weigh In On Malacca Straits Acquisition

A hedge fund recently bought a new stake in Malacca Straits Acquisition stock. Tuttle Capital Management LLC bought a new position in Malacca Straits Acquisition Company Limited (OTCMKTS:MLACU) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 40,000 shares of the company’s stock, valued at approximately $401,000. Malacca Straits Acquisition makes up about 2.4% of Tuttle Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding.

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.