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Can-One Bhd's wholly owned subsidiary, Can-One International Sdn Bhd, yesterday entered into a conditional share sale agreement with Kian Joo Holdings Sdn Bhd for the proposed acquisition of 146.13 million shares in its unit, Kian Joo Can Factory Bhd for RM241.12mil.
Can-One Bhd is proceeding with it acquisition of 32.9% stake in competitor Kian Joo Can Factory Bhd (KJCF).
PETALING JAYA: The application made by Can-One International Sdn Bhd (CISB), a wholly-owned subsidiary of Can-One Bhd, to strike out the plaintiffs writ of summons and statement of claim for the sale of a substantial stake in Kian Joo Can Factory Bhd has been adjourned by the court to March 8.
Public Invest Research has a Trading Sell call on Can-One following the surge in its share price after securing a 32.9% stake in Kian Joo Can Factory Bhd.
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