Yi-Lai shares jump after getting takeover offer for 78.5 sen apiece

PETALING JAYA: Ceramic tile manufacturer Yi-Lai Bhd's share price jumped 3.19% this morning, after receiving a conditional mandatory takeover offer from Boundless Vigour Sdn Bhd, which is owned by two directors in the company, to acquire the remaining shares it does not own for 78.5 sen per share.

At 11.15am, the stock stood at 81 sen with 116,100 shares changing hands. Its market capitalisation stood at RM119.5 million.

The group told the stock exchange that the offer price represents a 1.42% premium against its five-day volume-weighted average market price of 77.4 sen.

It said the offer will remain open for acceptance for at least 21 days from the posting date.