Scientex at 10-month high on positive view on takeover

Scientex was among the top gainers as investors were positive about its purchase of Mondi Ipoh Sdn Bhd (MISB) for RM58mil cash to expand its consumer packaging division.

PETALING JAYA: Flexible plastic packaging maker Scientex Bhd, which has launched a mandatory general offer (MGO) for Daibochi Bhd, saw its shares hit a 10-month high after announcing the proposed corporate exercise.

It was also among the top gainers in the local bourse as investors viewed Scientex’s proposed takeover of Daibochi, a rival packaging manufacturer, as a positive move.