KUALA LUMPUR: Permodalan Nasional Bhd (PNB), which launched a surprise takeover of S P Setia Bhd, bought 23.50 million shares of the property developer on Thursday, Sept 29.
Maybank Investment Bank Bhd said on Friday PNB bought the shares from the open market at an average price of RM3.868 a share. This was 3.2 sen below the offer price it made to SP Setia shareholders.
Under the takeover exercise, PNB made a cash offer of RM3.90 per share and 91 sen per warrant.
S P Setia share price rose one sen to RM3.88 at midday on Friday with 2.44 million shares transacted. The warrants increased 9.5 sen to 88.5 sen with 44.65 million units done.
Maybank Investment Bank Bhd said on Friday PNB bought the shares from the open market at an average price of RM3.868 a share. This was 3.2 sen below the offer price it made to SP Setia shareholders.
Under the takeover exercise, PNB made a cash offer of RM3.90 per share and 91 sen per warrant.
S P Setia share price rose one sen to RM3.88 at midday on Friday with 2.44 million shares transacted. The warrants increased 9.5 sen to 88.5 sen with 44.65 million units done.
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