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Stock With Momentum: Super Enterprise Holdings
by Cals Sat 20 Jun 2015, 23:12
Stock With Momentum: Super Enterprise Holdings
Super Enterprise Holdings Bhd (-ve)
SHARES of Super (Fundamental: 2.2/3; Valuation: 1.4/3) jumped as much as 9.6% to RM3.65 yesterday, after it received a takeover offer from Nasdaq-listed Multi-Color Corp (MCC) to acquire all its shares at RM3.80 per share. However, it gave up some gains to close at RM3.55.
The offer price values the company at a price-to-book of 1.56 times and P/E of 21.11 times. Super’s board had decided that it would not seek an alternate offer for its shares.
The takeover offer is conditional upon acceptances of over 90% of the voting shares. Substantial shareholders Goh Jui Leang and his family members, who collectively own a 42.46% stake, have accepted the offer.
To recap, in March, Super received a non-binding indication of interest from MCC to explore a potential transaction involving its shares, subject to a due diligence exercise.
Super manufactures adhesive labels, nameplates and in-mould decorating products with operations in Malaysia, China, Indonesia, Thailand, and Philippines.
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This article first appeared in The Edge Financial Daily, on June 19, 2015.
Super Enterprise Holdings Bhd (-ve)
SHARES of Super (Fundamental: 2.2/3; Valuation: 1.4/3) jumped as much as 9.6% to RM3.65 yesterday, after it received a takeover offer from Nasdaq-listed Multi-Color Corp (MCC) to acquire all its shares at RM3.80 per share. However, it gave up some gains to close at RM3.55.
The offer price values the company at a price-to-book of 1.56 times and P/E of 21.11 times. Super’s board had decided that it would not seek an alternate offer for its shares.
The takeover offer is conditional upon acceptances of over 90% of the voting shares. Substantial shareholders Goh Jui Leang and his family members, who collectively own a 42.46% stake, have accepted the offer.
To recap, in March, Super received a non-binding indication of interest from MCC to explore a potential transaction involving its shares, subject to a due diligence exercise.
Super manufactures adhesive labels, nameplates and in-mould decorating products with operations in Malaysia, China, Indonesia, Thailand, and Philippines.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on June 19, 2015.
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