Can-One plans to raise stake in Kian Joo Can

TheStar Fri, Dec 14, 2018 07:51am - 5 years View Original


Move will trigger MGO and create a major can manufacturing group

Move will trigger MGO and create a major can manufacturing group

PETALING JAYA: Can-One Bhd is proposing to acquire 2.167 million shares or a 0.49% interest in Kian Joo Can Factory Bhd (KJCFB) from Tan Kim Seng for RM6.71mil or RM3.10 per KJCFB share in cash.

This will increase Can-One’s shareholding in KJCFB to 33.39% from 32.90%, obliging it to extend a mandatory general offer (MGO) for all the remaining KJCFB shares not already owned by Can-One and its parties acting in concert for RM3.10 per KJCFB share.

Should this deal go through, it would enable the enlarged Can-One group to increase its market share in the can manufacturing business, thereby creating a major Malaysian can manufacturing player.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

BURSA 7.420
CANONE 2.680
KIANJOO 3.050

Comments

Login to comment.