Can-One plans to raise stake in Kian Joo Can

AmInvestment Bank Research said about 35% of Kian Joo

PETALING JAYA: Can-One Bhd is proposing to acquire 2.167 million shares or a 0.49% interest in Kian Joo Can Factory Bhd (KJCFB) from Tan Kim Seng for RM6.71mil or RM3.10 per KJCFB share in cash.

This will increase Can-One’s shareholding in KJCFB to 33.39% from 32.90%, obliging it to extend a mandatory general offer (MGO) for all the remaining KJCFB shares not already owned by Can-One and its parties acting in concert for RM3.10 per KJCFB share.