KUALA LUMPUR: Manulife Century Holdings (Netherlands) BV, which owns 48.66% of Manulife Holdings Bhd, has served a notice of conditional takeover offer for the remaining shares at RM3.22 a share.
Manulife shares closed two sen lower at RM2.84 on Wednesday, Oct 13.
Manulife said Manulife Century had on Wednesday acquired 5.857 million shares or 2.89% for RM18.86 million or RM3.22 a share.
'Immediately prior to the acquisition, Manulife Century held 92.61 million shares, representing approximately 45.76% of the issued and paid-up share capital of Manulife. After the acquisition, Manulife Century's equity interest in Manulife increased from45.76% to 48.66%,' it said.
Under the Malaysian Code on Takeovers and Mergers, 1998, Manulife Century was obliged to serve the notice on the Manulife board and extended a conditional take-over offer.
Manulife shares closed two sen lower at RM2.84 on Wednesday, Oct 13.
Manulife said Manulife Century had on Wednesday acquired 5.857 million shares or 2.89% for RM18.86 million or RM3.22 a share.
'Immediately prior to the acquisition, Manulife Century held 92.61 million shares, representing approximately 45.76% of the issued and paid-up share capital of Manulife. After the acquisition, Manulife Century's equity interest in Manulife increased from45.76% to 48.66%,' it said.
Under the Malaysian Code on Takeovers and Mergers, 1998, Manulife Century was obliged to serve the notice on the Manulife board and extended a conditional take-over offer.
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