Can-One Bhd (+ve)
TRADING of shares in Can-One Bhd (fundamental: 0.9/3, valuation: 2.4/3) triggered our momentum algorithm last Friday for the ninth time this year.

The counter closed 12 sen or 3.24% higher at RM3.83 last Friday with a total of 1.96 million shares traded, almost 10 times more than its 200-day average trading volume of 197,679 shares.

Last Tuesday, Can-One announced it had accepted the offer from Asia Dairy Creations Sdn Bhd (ADCSB) to purchase its subsidiary F&B Nutrition Sdn Bhd for a price tag of between RM800 million to RM1 billion, which is higher than its market capitalisation of RM735.95 million based on its latest closing price.

This decision was made one day after the group received the offer from ADCSB, a special purpose vehicle managed by Southern Capital Group Private Ltd. Can-One has a direct 20% stake in F&B Nutrition, with the balance 80% indirectly held under its wholly-owned Amber Alliance Sdn Bhd.