MWE surges on privatisation offer
PETALING JAYA: Garment maker MWE Holdings Bhd 
surged by 33 sen or 25.38% to RM1.63 as trade closed yesterday, largely on the back of a privatisation offer from tycoon Tan Sri Surin Upatkoon (pic).
The Main Market-listed counter resumed trading at 2.30 pm, following its temporary suspension from 9 am yesterday to facilitate the announcement.
In a filing with Bursa Malaysia, MWE said that Surin, via Pinjaya Sdn Bhd, has requested the company to undertake a selective capital reduction (SCR) and capital repayment exercise.
The corporate exercise involved the the SCR and a corresponding capital repayment of a proposed cash amount of RM1.75 per share to entitled shareholders.
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