Scientex in RM345m takeover of subsidiary Daibochi

According to Forbes Asia’s list, the top-three performing Malaysian firms in terms of total sales were Scientex (US$834mil or RM3.47bil), Thong Guan Industries (US$229mil or RM952mil) and Comfort Gloves (US$225mil or RM936mil).

KUALA LUMPUR: Global packaging manufacturer and leading property developer Scientex Bhd has proposed to launch a takeover of its subsidiary Daibochi Bhd's remaining shares and warrants that it does not already own, at an offer price of RM2.70 per share and 32 sen per warrant, for a total of RM345.3mil.

It said on Monday the proposed exercise entails buying 124.78 million Daibochi shares, representing 38.12% of the total issued shares, and 26.13 million warrants, representing 95.75% of the outstanding Daibochi warrants.