KUALA LUMPUR: Shares of MALAYSIAN RESOURCES CORP [] Bhd (MRCB) eked out marginal gains in early trade on Thursday, March 4 after the Employees Provident Fund Board’s conditional takeover offer at RM1.50 per share.
At 9.06am, it was up one sen to RM1.48 in active trade.
CIMB Equities Research said the takeover offer at RM1.50 per share was fair price, although it is a 10% discount to its target price of RM1.66.
The research house said MRCB had been trading at around RM1.40 for the past few weeks. Although EPF is not offering a hefty share price premium, it said some shareholders will take up the offer, it said.
On Wednesday, the EPF extended a conditional general offer (GO) of RM1.50 cash per share for the 66.2% of MRCB that it does not own post rights. The share price closed at RM1.47 on Wednesday, up six sen.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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