PETALING JAYA: The single largest shareholder and chief executive officer of Watta Holding Bhd
has launched a conditional mandatory takeover offer for the company at 50 sen per offer share.
Datuk Lee Foo San, who is also the deputy chairman, triggered the mandatory takeover offer threshold of 33% after raising his stake in the little-known company to 45.59% yesterday.
Via direct business transactions, Lee acquired an additional 11.14 million shares, or a 13.19% stake, on top of his existing shareholding of 32.8%.
...