Business News

Published: Friday February 8, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:47:47 AM

Ninian ups MBf stake in RM16m acquisition

KUALA LUMPUR: MBf Holdings Bhd chief executive officer Tan Sri Dr Ninian Mogan Lourdenadin has raised his stake in the company with the acquisition of 10.68 million shares.

A statement to Bursa Malaysia on Friday showed that Impact Action Sdn Bhd had bought 10.68 million MBf shares for RM16.01mil on Thursday from the open market. This was an average of 1.498 sen, which was marginally lower than the takeover offer of RM1.50.

Ninian, who owns 87% of MBf Holdings, had on Thursday made a takeover offer for the remaining shares of the firm at RM1.50 each.

He has also offered to buy its remaining warrants at 50 sen each and outstanding redeemable convertible secured loan stocks issued by the company's unit Welllink Investments at RM4.64 each.

The joint offerors were Tor Private Ltd, Nadin Holdings Sdn Bhd, Impact Action Sdn Bhd and Market Share Investments Ltd.

Tags / Keywords: News, Business, Business, MBf stake, Tan Sri Dr Ninian Mogan Lourdenadin

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