PETALING JAYA: The offer by Yee Lee Corp Bhd’s founder and executive chairman Datuk Lim A Heng@Lim Kok Cheong and joint offerers to acquire the remaining shares in the company that they do not already own at RM2.06 per share is fair.
Public Investment Bank Research (PublicInvest) said this to clients in a report, stating that the offer was at a slight premium to its 12-month target price of RM1.96 for the company.
“Furthermore, the trading volume of Yee Lee’s shares had been thin and this offer gives shareholders the opportunity to cash out, ” it told clients.
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