KUALA LUMPUR: Halex Holdings Bhd’s share price continued to climb early Thursday, surging to a high of 91.5 sen and shooting past the takeover price of 64 sen.
At 10.35am, it was up 7.5 sen to 91.5 sen. Turnover was 3.43 million shares.
The FBM KLCI fell 2.70 points or 0.15% to 1,747.71. Turnover was 950.25 million sharesvaued at RM431.26mil. There were 281 gainers, 270 losers and 373 counters unchanged.
Waras Dinamik Sdn Bhd (WDSB) and Datuk Ong Soon Ho, who is a director in both Halex and WDSB had earlier in March made mandatory takeover offer for the group’s shares at a cash price of 64 sen per share.
Inclusive of Ong’s own 4.57% direct stake in the group, the joint-offerers currently own approximately 50.13 million Halex shares, representing a 50.13% interest in the group following the purchase as at March 23.
On Wednesday, the offerors disclosed that they intend to maintain the listing status of Halex on the Main Market of Bursa Malaysia.
Halex’s core businesses include agrochemicals, horticulture, plant tissue culture, vermiculture, and health and beauty essentials such as cotton, tissues, wet wipes, sanitary and hygienic products.
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