KUALA LUMPUR: Shares of Hing Yiap Group Bhd fell in early trade on Tuesday, Jan 18 as investors were disappointed with the takeover offer at RM1.50 cash per share.
At 9.14am, it was down five sen to RM1.74 with 20,200 shares done.
The FBM KLCI rose 1.74 points to 1,576.23. There were 138.02 million shares done valued at RM97.2 million. There were 169 gainers, 78 losers and 183 stocks unchanged.
Hing Yiap Group Bhd had received an unconditional takeover offer from Everest Hectare Sdn Bhd to acquire all the remaining shares for RM1.50 cash per share.
At RM1.50, the offer was below its closing market price of RM1.79 on Monday. Its net asset value per share of RM2.35 as of end-September 2010.
At 9.14am, it was down five sen to RM1.74 with 20,200 shares done.
The FBM KLCI rose 1.74 points to 1,576.23. There were 138.02 million shares done valued at RM97.2 million. There were 169 gainers, 78 losers and 183 stocks unchanged.
Hing Yiap Group Bhd had received an unconditional takeover offer from Everest Hectare Sdn Bhd to acquire all the remaining shares for RM1.50 cash per share.
At RM1.50, the offer was below its closing market price of RM1.79 on Monday. Its net asset value per share of RM2.35 as of end-September 2010.
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