Prized asset: A Kian Joo production line. Based on Kian Joo’s market cap of RM1.39bil or RM 3.15 share price, Can-One’s block is valued at RM460.27mil.
Can-One Bhd
, which has been involved in a long-drawn-out takeover of Kian Joo Can Factory Bhd, has shot onto investors’ radar. In a span of 17 days, its shares are up some 35% to trade at RM3.09.
The tin can manufacturer owns a 32.9% stake in Kian Joo, a stock in similar business but commanding a bigger market share and whose earnings are growing.
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