Scientex to buy Daibochi stake for RM222.5m

Scientex was among the top gainers as investors were positive about its purchase of Mondi Ipoh Sdn Bhd (MISB) for RM58mil cash to expand its consumer packaging division.

PETALING JAYA: Packaging material maker Scientex Bhd has inked a conditional share sale agreement to acquire a 42.41% stake in its smaller rival Daibochi Bhd for RM222.5mil.

In a filing with Bursa Malaysia, the company said it had signed the agreement with certain shareholders of Daibochi or the vendors to purchase over 139.06 million ordinary shares in Daibochi via a share-swap deal.