Watta group exec chairman launches takeover

In a letter to the board of directors of Watta on Wednesday, he said the takeover offer was at 50 sen a share after he earlier acquired 11.14 million shares of 13.19% stake at 50 sen also.

KUALA LUMPUR: Watta Holding Bhd’s group executive chairman Datuk Lee Foo San has launched a mandatory takeover offer for the remaining stake in the company after he raised his total shareholding to 45.59%.

In a letter to the board of directors of Watta on Wednesday, he said the takeover offer was at 50 sen a share after he earlier acquired 11.14 million shares of 13.19% stake at 50 sen also.