Hovid buyout offer is now unconditional

In a circular to shareholders yesterday, AmInvestment Bank said the offer price of 38 sen is higher than the ascribed equity value of 24 sen to 28 sen per share and represented a premium of 10 sen to 14 sen

KUALA LUMPUR: Hovid Bhd managing director David Ho Sue San and his private equity backer’s joint offer to buy out the company’s minority shareholders and delist the stock has become unconditional.

They are offering minority shareholders 38 sen a share to exit the company and 20 sen for each warrant.