Wednesday, July 14, 2010

MMosaics surges in early trade

KUALA LUMPUR: MALAYSIAN MOSAICS BHD [] (MMosaics) surged on Wednesday, July 14 after it received a privatisation proposal from its major shareholder Gek Poh (Holdings) Sdn Bhd at RM2.30 cash per share.

This is a premium of 30% and 41% over the five-day and three-month volume weighted average market price of MMosaics shares up to and including July 9 of RM1.77 and RM1.63 respectively.

At 9.15am, MMosaics jumped 31 sen to RM2.19 with 384,000 shares traded.

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