KUALA LUMPUR (Feb 14): The share prices of Kian Joo Can Factory Bhd and Can-One Bhd shot up today after the latter launched a conditional mandatory takeover for the former at RM3.10 per share.

At 4.31pm today, Kian Joo’s share price was 13 sen higher at RM3.00 per share while that of Can-One was nine sen better at RM2.67 with 1.89 million shares and 98,800 shares changing hands, respectively.

Can One currently owns 32.9% of Kian Joo, comprising 295.87 million shares.

Trading in both companies’ shares were suspended at 12.06pm today to pave way for the announcement and trading in both counters resumed at 2.30pm.