KUALA LUMPUR (March 26): Sig Gases Bhd shares rose 4.35% in early trade today after it received an offer from Air Liquide Malaysia Sdn Bhd to take over the entire equity stake in Iwatani-SIG Industrial Gases Sdn Bhd for RM226.59 million in cash.

At 9.03am, Sig Gases rose 4 sen to 96 sen with 398,500 shares done.

Iwatani-SIG Industrial Gases is a joint venture company (JVco) established in 2012 with Iwatani Corp (Singapore) Pte Ltd. Iwatani Corp owns 60% of the JVco, while Sig Gases' wholly-owned subsidiary Southern Industrial Gas Sdn Bhd holds the remaining 40% stake. The JVco is based at Samalaju Industrial Park in Bintulu, Sarawak, where it supplies nitrogen and oxygen.