UMW Holdings may need to pay about RM1.12bil in cash and issue 49.3 million new shares at RM6.09 a share to privatise MBM and acquire the additional 10% stake in Perodua from PNB Equity Resources.
PETALING JAYA: Shares of diversified conglomerate UMW Holdings Bhd
tumbled 59 sen or 9% to RM5.90 yesterday after the Main Market company announced a cash call to part-finance the purchase of car maker Perodua.
Analysts expect the rights issue exercise, which could raise up to RM1.1bil cash, to be earnings per share (EPS) accretive for UMW, despite the dilution impact from the additional new shares.
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