KUALA LUMPUR: Shares of EMIVEST BHD [] and LEONG HUP HOLDINGS BHD [] climbed in early trade on Friday, Nov 19 after they received a takeover offer from their common major shareholder totaling RM426 million.
At 9.18am, Emivest was up 3.5 sen to 85.5 sen. There were 1.71 million shares done at prices ranging from 85 sen to 87.5 sen.
Leong Hup added two sen to RM1.71. There were 1.85 million shares transacted at prices ranging from RM1.70 to RM1.74.
Major shareholder Emerging Glory Sdn Bhd had made an offer to acquire all the assets and liabilities of both companies.
Leong Hup said the offer for its assets and liabilities was RM318.65 million or RM1.80 per ordinary RM1 share.
Emivest was offered RM108 million or 90 sen per ordinary 50 sen share for all the assets and liabilities.
However, investors should be aware that Emerging Glory had said in the offer letter to Leong Hup that of the RM318.65 million, about RM169.70 million would be in cash and the remaining RM148.95 million as amount remaining due and owing by Emerging Glory as debt to Leong Hup.
As for Emivest, Emerging Glory's offer letter stated that of the purchase consideration of RM108 million, about RM46.35 million would be in cash and the remaining RM61.64 million would be remaining due by Emerging Glory as debt due to Emivest.
At 9.18am, Emivest was up 3.5 sen to 85.5 sen. There were 1.71 million shares done at prices ranging from 85 sen to 87.5 sen.
Leong Hup added two sen to RM1.71. There were 1.85 million shares transacted at prices ranging from RM1.70 to RM1.74.
Major shareholder Emerging Glory Sdn Bhd had made an offer to acquire all the assets and liabilities of both companies.
Leong Hup said the offer for its assets and liabilities was RM318.65 million or RM1.80 per ordinary RM1 share.
Emivest was offered RM108 million or 90 sen per ordinary 50 sen share for all the assets and liabilities.
However, investors should be aware that Emerging Glory had said in the offer letter to Leong Hup that of the RM318.65 million, about RM169.70 million would be in cash and the remaining RM148.95 million as amount remaining due and owing by Emerging Glory as debt to Leong Hup.
As for Emivest, Emerging Glory's offer letter stated that of the purchase consideration of RM108 million, about RM46.35 million would be in cash and the remaining RM61.64 million would be remaining due by Emerging Glory as debt due to Emivest.
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