Thursday, December 29, 2011

Kian Joo says unaware of privatisation plans for Box-Pak, shares at fresh 14-yr high

KUALA LUMPUR (Dec 29): KIAN JOO CAN FACTORY BHD [] has declared it is unaware of any negotiations to privatise BOX-PAK (MALAYSIA) BHD [], though it occasionally might receive expressions of interest in its investments.

It said on Thursday it was not aware of any formal discussions concerning the privatisation.

'The company also wishes to announce that it has not appointed any investment bank in relation to the privatisation,' it said.

Kian Joo said the company from time to time may receive proposals, enquiries and expressions of interest in relation to the company's various investments.

Box-Pak share price had on Wednesday, surged to its highest in 14 years and closed 37 sen higher at RM2.47. It gained 33.5% in the two days before the Christmas weekend.

At midday on Thursday, it was up two sen to RM2.49, another fresh 14-year high. There were 3.30 million shares done at prices ranging from RM2.40 to RM2.65.

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