Bursa Alert
Global Market
NewsHot Stock Karex rises 4.85% on plan to buy over condom maker MLD
Page 1 of 1
Hot Stock Karex rises 4.85% on plan to buy over condom maker MLD
by Cals Thu 13 Aug 2015, 12:07
Hot Stock
Karex rises 4.85% on plan to buy over condom maker MLD
KUALA LUMPUR (Aug 13): Shares of the world’s largest condom manufacturer Karex Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in morning trades today after the company proposed to purchase loss-making company Medical-Latex (Dua) Sdn Bhd (MLD) from Beiersdorf Aktiengesellschaft AG for RM13 million cash.
At 9.45am, Karex rose 4.85% or 15 sen to RM3.24 with 295,400 shares done.
Karex told Bursa that the acquisition, expected to be completed by early October, will be financed by the proceeds raised from its private placement exercise completed in March this year.
Separately, Karex said MLD and Beiersdorf have signed an original equipment manufacturing and supply agreement to appoint MLD as the exclusive manufacturer of all condoms for Beiersdorf and its subsidiaries.
Presently, MLD manufactures Beierdorf’s condom brands, such as Duo and Harmony.
MLD, which has been manufacturing condoms since 1987, also owns the brand ESP, which is growing in the retail market of Singapore and Malaysia.
Karex rises 4.85% on plan to buy over condom maker MLD
KUALA LUMPUR (Aug 13): Shares of the world’s largest condom manufacturer Karex Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in morning trades today after the company proposed to purchase loss-making company Medical-Latex (Dua) Sdn Bhd (MLD) from Beiersdorf Aktiengesellschaft AG for RM13 million cash.
At 9.45am, Karex rose 4.85% or 15 sen to RM3.24 with 295,400 shares done.
Karex told Bursa that the acquisition, expected to be completed by early October, will be financed by the proceeds raised from its private placement exercise completed in March this year.
Separately, Karex said MLD and Beiersdorf have signed an original equipment manufacturing and supply agreement to appoint MLD as the exclusive manufacturer of all condoms for Beiersdorf and its subsidiaries.
Presently, MLD manufactures Beierdorf’s condom brands, such as Duo and Harmony.
MLD, which has been manufacturing condoms since 1987, also owns the brand ESP, which is growing in the retail market of Singapore and Malaysia.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Hot Stock Karex falls 3.88% on plans to acquire UK condom maker
» Karex acquires US condom maker to expand OBM biz
» Karex to buy UK condom maker Pasante for RM35.8m
» World's biggest condom maker Karex looks to float shares
» Karex to launch its own brand of condom in Malaysia next month
» Karex acquires US condom maker to expand OBM biz
» Karex to buy UK condom maker Pasante for RM35.8m
» World's biggest condom maker Karex looks to float shares
» Karex to launch its own brand of condom in Malaysia next month
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum