PETALING JAYA: Econframe Bhd
is proposing to fully acquire Ivory Pearl Sdn Bhd (IPSB) for a total purchase price of RM56mil, to be settled through a combination of cash and consideration shares.
In a filing with Bursa Malaysia yesterday, the total door system solutions provider said it would be purchasing 7,081,321 ordinary shares in IPSB with a RM46,672,545 cash consideration, with the remaining RM9,327,455 to be settled via the issuance and allotment of 16,500,000 consideration shares of Econframe at an issue price of RM0.5653 per share.
