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Bonia falls as investors disappointed over exec chairman's offer (9288)
by hlk Mon 27 Aug 2012, 13:07
KUALA LUMPUR: Shares of Bonia Corp Bhd, which had surged last week, fell in early trade on Monday on news that its group executive chairman cum CEO Chiang Sang Sem was looking to acquire certain stake at prices ranging from RM1.80 to RM2 a share.
At 9.29am, Bonia was down 18 sen to RM2.41. There were 49,900 shares done.
The
FBM KLCI fell 0.74 of a point to 1,647.48. Turnover was 161.77 million
shares done valued at RM57.57mil. There were 174 gainers, 113 losers
and 181 counters unchanged.
Last Friday, Bonia announced Chiang
was discussing with several parties to acquire certain stakes in Bonia.
The indicative price for the Potential Acquisition is in the range of
RM1.80 to RM2 per share.
The potential acquisition, when completed, would result in Chiang and his family collectively holding more than 50%.
Chiang
and his family would then be obliged to extend a mandatory general
offer to acquire the remaining shares in Bonia at the same price as the
potential acquisition.
At 9.29am, Bonia was down 18 sen to RM2.41. There were 49,900 shares done.
The
FBM KLCI fell 0.74 of a point to 1,647.48. Turnover was 161.77 million
shares done valued at RM57.57mil. There were 174 gainers, 113 losers
and 181 counters unchanged.
Last Friday, Bonia announced Chiang
was discussing with several parties to acquire certain stakes in Bonia.
The indicative price for the Potential Acquisition is in the range of
RM1.80 to RM2 per share.
The potential acquisition, when completed, would result in Chiang and his family collectively holding more than 50%.
Chiang
and his family would then be obliged to extend a mandatory general
offer to acquire the remaining shares in Bonia at the same price as the
potential acquisition.
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