UMW shares jump 4.37% on plans to take over MBM Resources
12 Mar 2018 / 11:13 H.
PETALING JAYA: UMW Holdings Bhd's share price jumped 26 sen or 4.37% this morning, following its plans to take a controlling stake in Perusahaan Otomobil Kedua Sdn Bhd (Perodua) via the proposed acquisitions of shares in MBM Resources Bhd.
At 10.36am, the stock stood at RM6.21 with 190,300 shares changing hands.
Shares of MBM Resources rose 30 sen or 13.76% to RM2.48 following the news. Some 863,700 shares were changing hands.
UMW said the MBM Resources offer is priced at RM501 million or RM2.56 per share to be settled in cash, valuing MBM Resources at about RM1 billion.