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AbleGroup gets 13 sen a share takeover offer from MD

Mimi Sabreena 5:30:00 PM Informasi

KUALA LUMPUR (Sept 14): AbleGroup Bhd has received a conditional mandatory takeover offer from Parallel Pinnacle Sdn Bhd, the private vehicle of its managing director Datuk Lim Kim Huat, after the latter bought 28.3 million AbleGroup shares or a 10.72% stake in the company.

According to a filing with the bourse, Parallel offered to buy the remaining shares at 13 sen per share, a 1 sen or 7% discount to the stock's closing price of 14 sen on Sept 13.

The offer for the shares shall remain open until 5pm for at least 21 days from the posting date.

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