Johan shares fall after takeover price revised upwards
13 Oct 2017 / 11:09 H.
PETALING JAYA: Johan Holdings Bhd's shares fell 1.79% this morning, after offeror revises price upwards by one sen, to 26 sen per share.
At 10.39am, the stock stood at 27.5 sen with 2.31 million shares changing hands. It has a market capitalisation of RM174.4 million.
The group said the price revision comes after the offeror, Mustika Manis Sdn Bhd, bought an additional 2.1% stake for 26 sen or RM3.9 million yesterday.
The 26 sen offer price is to be equivalent to be price paid by the offeror for the second acquisition.
Following that, the offer price now represents a 1.33% premium to its five-day volume weighted average price of 25.66 sen.