Thursday, February 10, 2011

MTD Cap surges to RM10.92 on revised offer

KUALA LUMPUR: Shares of MTD CAPITAL BHD [] jumped at the start of afternoon trade on Thursday, Feb 10 after Nikvest Sdn Bhd and parties acting in concert raised their offer price to RM11.

At 2.31pm, it was up 40 sen to RM10.92 with 170,000 shares done.

Trading in MTD was suspended in the morning session for the announcement by Nikvest, Alloy Consolidated Sdn Bhd, Alloy Concrete Engineering Sdn Bhd and Alloy Capital Sdn Bhd on the revised proposal.

On Jan 31, they had informed investors who had accepted their joint offer before or on Jan 28, could withdraw the acceptances.

Nikvest and the parties acting on concert had earlier made an unconditional take-over offer to acquire MTD Capital shares not already owned for a cash offer of RM9.50.

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