Dataprep shares sink further following takeover bid
12 Oct 2017 / 11:18 H.
PETALING JAYA: Shares of Dataprep Holdings Bhd have fallen by 11.94% this morning, after the company received a takeover offer from Wardah Communication Sdn Bhd for a cash offer of 16 sen per share yesterday.
At 10.39am, the stock, which was among the most active counters, stood at 29.5 sen with 20.08 million shares changing hands. It has a market capitalisation of RM141.2 million.
Dataprep said the offer comes after Wardah acquired 270.54 million shares or 64.2% equity interest in the company from the latter's major shareholder VXL Holdings Sdn Bhd at 16 sen per share.
The 16 sen offer price, however, represents a 59.97% discount to its five-day volume weighted average market price of 40 sen.