Kenanga IB: Takeover offer for Amverton reasonable

Independent adviser Kenanga Investment Bank Bhd advised the minority shareholders of mid-sized property company Amverton Bhd to accept the takeover offer at RM1.20 a share from its founder and controlling shareholder Tan Sri Ng Thian Hock.

KUALA LUMPUR: The minority shareholders of mid-sized property company Amverton Bhd have been advised to accept the takeover offer at RM1.20 a share from its founder and controlling shareholder Tan Sri Ng Thian Hock(pic).

The independent adviser Kenanga Investment Bank Bhd said yesterday that the RM1.20 a share offer was not fair as it was a significant discount of 68.34% to the estimated fair value per Amverton Share of RM3.79.