Weida Shares Rise On Privatisation Plans - KUALA LUMPUR: Shares in Weida (M) Bhd rose in early trade on Tuesday after its founder seeks to to take the firm private and delist it from the Main Market of Bursa Malaysia.
The diversified engineering and manufacturing company saw its shares rose 11.22%, or 23 sen to RM2.27. It was the second top gainer on Bursa Malaysia.
Weida announced on Monday its founder Datuk Lee Choon Chin is offering shareholders RM2.40 per share in an attempt to privatise the company.
Lee, who is also the group’s executive chairman, is making the offer via 88%-owned Weida Management Sdn Bhd.
At RM2.40 per share, the offer price is at a premium of 35 sen or 17.07% to Weida’s last traded share price of RM2.05.
It is also at a premium of between 19.94% and 23.64% to the volume-weighted average price (VWAP) of its shares up to the one-year period leading to Jan 26.
0 comments:
Post a Comment