Harn Len proposes RM54.72mil acquisition to diversify plantation business

KUALA LUMPUR: Harn Len Corp Bhd has entered into a conditional share sale agreement with Datuk Mohamed Nizam Mohamed Jakel, the group chief operating officer of Jakel Group, for the proposed acquisition of 100% equity interest in Almal Resources Sdn Bhd for RM54.72mil.

In a statement, it said RM21.9mil or 40% of the purchase consideration is to be satisfied via the issuance and allotment of 31.27 million new Harn Len shares at an issue price of 70 sen per share, while the remainder will be paid in cash.