The restaurateur added 21.95%, or 13.5 sen to 75 sen, its record high with 6.3 million shares done.
The takeover offer follows Chai’s acquisition of 151.25 million shares for RM45.37mil or 30 sen apiece from four parties, resulting in 62.37% equity ownership in Oversea.
Chai had acquired 73.04 million shares or 30.12% from Oversea founder Yu Soo Chye @ Yee Soo Chye for RM21.91mil, 50.89 million shares or 20.99% from Lee Lim & Sons Sdn Bhd for RM15.27mil and 20.46 million shares or 8.44% from Yu Tack Teik for RM6.13mil.
The remaining stakes were acquired from Simple Angel Capital Sdn Bhd (0.25%) and Khong Yik Kam (2.58%).
“The offeror (Chai) intends to maintain the listing status of Oversea on the Ace Market and does not intend to compulsorily acquire the remaining shares.
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