Share
KUALA LUMPUR (Oct 26): Tanah Makmur Bhd rose as much as 10 sen or 6% after its major shareholder, the Tengku Mahkota of Pahang Tengku Abdullah Sultan Ahmad Shah, upped his takeover offer for the company to RM1.90 a share from RM1.80.
Tengku Abdullah has proposed to privatise Tanah Makmur via a selective capital reduction and repayment exercise.
Shares of property-cum-plantation player Tanah Makmur climbed to their highest so far today at RM1.82. At 10:36am, the stock rose nine sen to RM1.81 for a market capitalisation of RM684.83 million.
Tanah Makmur was Bursa Malaysia's fourth-largest gainer.
Yesterday, Tanah Makmur said Tengku Abdullah upped his takeover offer for the company to RM1.90 after taking into consideration factors including the group's net assets per share.
The RM1.90 offer price is higher than Tanah Makmur's net assets per share of RM1.07 as at Dec 31, 2015, according to the company.
Tengku Abdullah and parties in concert collectively hold about 68.08% of Tanah Makmur. — theedgemarkets.com
TOP PICKS BY EDGEPROP
Taman Kemuning, Senawang
Seremban, Negeri Sembilan
Hijayu 3, Bandar Sri Sendayan
Siliau, Negeri Sembilan
Saujana Sutera, S2 Heights
Seremban, Negeri Sembilan
Taman Intan Perdana
Port Dickson, Negeri Sembilan
Damaris @ Ara Sendayan
Seremban, Negeri Sembilan
Crisantha @ Resort Homes, Bandar Sri Sendayan
Seremban, Negeri Sembilan
Suriaman 2, Bandar Sri Sendayan
Seremban, Negeri Sembilan
Seremban Putra Apartments
Seremban, Negeri Sembilan
HIJAYU 2 - RESORT HOMES
Seremban, Negeri Sembilan
