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NewsKulim offers RM3 for each Sindora share
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Kulim offers RM3 for each Sindora share
by hlk Tue 16 Aug 2011, 21:20
KUALA LUMPUR: Kulim Bhd, which owns 74.99% of SINDORA BHD [], is offering RM3 per share in its proposed takeover of the company for the remaining 25.01% stake.
According to Kulim’s proposal announced on Tuesday, Aug 16, the RM3 offer price was a premium of 35 sen over the last traded price of RM2.65 before Sindora was suspended at midday on Monday.
Sindora had hit limit-up, surging to 60 sen or 30% to RM2.65 with 270,200 shares done, before its suspension while Kulim fell three sen to RM3.66.
The board of Sindora said it was not seeking an alternative person to make a take-over offer for the offer shares.
According to Kulim’s proposal announced on Tuesday, Aug 16, the RM3 offer price was a premium of 35 sen over the last traded price of RM2.65 before Sindora was suspended at midday on Monday.
Sindora had hit limit-up, surging to 60 sen or 30% to RM2.65 with 270,200 shares done, before its suspension while Kulim fell three sen to RM3.66.
The board of Sindora said it was not seeking an alternative person to make a take-over offer for the offer shares.
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