KUALA LUMPUR: YTL CEMENT BHD [] share price rose on Monday, Sept 27 after it acquired the remaining 35.16% or 117.74 million shares of RM1 each in Perak-Hanjoong Simen Sdn Bhd from GOPENG BHD [] for RM200 million cash.
At 9.50am, YTL Cement added 10 sen to RM4.25 with 14,000 shares traded.
The company said last Friday Gopeng accepted its offer to acquire the stake in Perak-Hanjoong and that a formal sale and purchase agreement would be signed in due course.
YTL Cement owns 217.16 million shares or 64.85% of Perak-Hanjoong, the second largest integrated cement producer in the country.
"The acquisition will enable YTL Cement to have full ownership of Perak-Hanjoong and fully integrate the operations of Perak-Hanjoong.
"This will further allow YTL Cement to have full control on the business direction of Perak-Hanjoong," it said.
Perak-Hanjoong ' which is in Padang Rengas, Perak ' has a plant capacity of three million tonnes per annum for clinker and 3.4 million tonnes per annum for cement, both of which are manufactured for local and export markets.
Perak-Hanjoong also has a cement depot and packing plant near Batu Caves in Selangor, with an annual capacity of 600,000 tonnes.
Meanwhile, Gopeng fell six sen to RM1.27 with 530,500 shares done.
At 9.50am, YTL Cement added 10 sen to RM4.25 with 14,000 shares traded.
The company said last Friday Gopeng accepted its offer to acquire the stake in Perak-Hanjoong and that a formal sale and purchase agreement would be signed in due course.
YTL Cement owns 217.16 million shares or 64.85% of Perak-Hanjoong, the second largest integrated cement producer in the country.
"The acquisition will enable YTL Cement to have full ownership of Perak-Hanjoong and fully integrate the operations of Perak-Hanjoong.
"This will further allow YTL Cement to have full control on the business direction of Perak-Hanjoong," it said.
Perak-Hanjoong ' which is in Padang Rengas, Perak ' has a plant capacity of three million tonnes per annum for clinker and 3.4 million tonnes per annum for cement, both of which are manufactured for local and export markets.
Perak-Hanjoong also has a cement depot and packing plant near Batu Caves in Selangor, with an annual capacity of 600,000 tonnes.
Meanwhile, Gopeng fell six sen to RM1.27 with 530,500 shares done.
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