KUALA LUMPUR: HPI RESOURCES BHD [], which agreed to a takeover by Japan's Oji Paper, is expected to surge when its resumes trade on Thursday, June 16.
In pre-opening market trade, there were bids at RM4.30 per share. The pre-suspension price was RM3.93.
Oji Paper has offered to acquire all of HPI Resources' 58.528 million shares for RM257.52 million. At RM4.40, this was a premium of 47 sen or 12% over the last traded price of RM3.93.
'The board has deliberated on the offer and does not intend to seek an alternate person to make a take-over for the offer shares,' HPI said on Wednesday.
In pre-opening market trade, there were bids at RM4.30 per share. The pre-suspension price was RM3.93.
Oji Paper has offered to acquire all of HPI Resources' 58.528 million shares for RM257.52 million. At RM4.40, this was a premium of 47 sen or 12% over the last traded price of RM3.93.
'The board has deliberated on the offer and does not intend to seek an alternate person to make a take-over for the offer shares,' HPI said on Wednesday.
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