PETALING JAYA: Independent adviser AmInvestment Bank Bhd has urged Malaysia Aica Bhd’s (Maica) minority shareholders to reject TER Equity Sdn Bhd’s buyout offer, deeming the 85-sen-a-share offer as “not fair and not reasonable.”
“We consider the offer to be not fair, given that the offer price is below the indicative realisable net asset value (RNAV) per share, and the prevailing market price of Maica shares as at the last practicable date (Feb 17),” AmInvestment said in its independent advice circular.
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