New high for Dagang NeXchange Bhd
KUALA LUMPUR: Denko Industrial Corporation Bhd is set to announce a corporate exercise on Friday and trading in the securities has been halted with effect from 3.22pm.
AmInvestment Bank Bhd said the company had applied for suspension of trading in the securities pending the release of a material announcement.
Denko manufactures plastic injection moulded parts.
Before the trading halt, it was up two sen to RM1.28.
On Feb 3, 2017, Singaporean businessman Foo Chee Juan launched a conditional voluntary takeover bid for Denko Industrial as he possibly seeks to consolidate and strengthen his business footprint in the Malaysian plastic injection moulding sector.
Denko Industrial had then announced the offer from Oregon Technology Sdn Bhd (OTSB) to acquire all of its ordinary shares at 55 sen cash a share.
OTSB, which is an investment holding company, is 100%-owned both directly and indirectly by Foo.
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