KUALA LUMPUR: Shares of Manulife Holdings Bhd surged in morning trade on Thursday, Oct 14 after its single largest shareholder makes takeover offer at RM3.22 a share.
At 10.42am, it was up 33 sen to RM3.17 with 876,300 shares done.
The FBM KLCI was up 4.21 points to 1,501.18. Turnover was 426.82 million shares valued at RM518 million. There were 347 gainers, 208 losers and 281 stocks unchanged.
Manulife Century Holdings (Netherlands) BV, which owns 48.66% of Manulife has served a notice of conditional takeover offer.
Prior to the acquisition, Manulife Century held 92.61 million shares, or 45.76% of Manulife. After the acquisition, Manulife Century's equity interest in Manulife increased from45.76% to 48.66%.
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.
At 10.42am, it was up 33 sen to RM3.17 with 876,300 shares done.
The FBM KLCI was up 4.21 points to 1,501.18. Turnover was 426.82 million shares valued at RM518 million. There were 347 gainers, 208 losers and 281 stocks unchanged.
Manulife Century Holdings (Netherlands) BV, which owns 48.66% of Manulife has served a notice of conditional takeover offer.
Prior to the acquisition, Manulife Century held 92.61 million shares, or 45.76% of Manulife. After the acquisition, Manulife Century's equity interest in Manulife increased from45.76% to 48.66%.
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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