PAN Malaysian Industries Bhd (PMI) has offered to pay RM58.8mil cash for all the shares in subsidiary Metrojaya Bhd, with the view of taking the company private.
The offer price of RM1.25 per share for the outstanding 37.63% stake in Metrojaya represents a 37% premium to the stock's five-day weighted average market price of 91.1 sen.
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