PETALING JAYA: Labels maker Super Enterprise Holdings Bhd has received a non-binding indication of interest from Nasdaq-listed Multi-Color Corp (MCC) to explore potential transaction of its shares.
Super Enterprise is involved in the manufacturing and distributing of labels and stickers such as nameplates as well as trading in labelling machines and hand labellers.
In a statement with Bursa yesterday, Super Enterprise said that the interest it received from MCC was at an “exploratory stage”.
“There is no assurance that a definite offer from MCC will materialise. The board notes the recent increase in its share price and wishes to remind shareholders to trade with caution,” it added.
Super Enteprise’s share price was traded at RM2.73, giving it a market capitalisation of RM113.8mil, before it was suspended from trading on March 31.
Year-to-date, Super Enterprise share price had risen almost 105% from RM1.33.
The shares resume trading today.
Super Enterprise said that MCC would need to undertake a due diligence exercise before it could proceed to making a definitive offer involving shares of Super Enterprise, if applicable. “The scope of the due diligence would include the operations of Super Enterprise and its subsidiaries, customers, suppliers and financials of the group,” the company said.
Super Enterprise posted a net profit of RM6.55mil for the first nine months of its financial year ended March 31 on revenue of RM104.08mil.
According to MCC’s website, the firm is based in Cincinnati, Ohio, the United States. MCC is a leader in global label solutions for the world’s most prominent brands for leading manufacturers of home and personal care, wine and spirit, food and beverage and specialty consumer products.
As at March 31, it has a market capitalisation of U$1.15bil.
MCC has presence in North, Central and South America, Europe, Australia, New Zealand and South Africa with a comprehensive range of the latest label technologies in pressure sensitive, cut and stack, in-mold, shrink sleeve and heat transfer.