PNB steps up purchase of S P Setia shares in takeover plan

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has raised its stake in S P Setia Bhd with the acquisition of 20.77 million shares on Monday, Oct 3.

A filing with Bursa Malaysia on Tuesday, Oct 4 showed PNB had acquired 10.95 million shares from the open market at RM3.8928 a share. It also acquired 9.824 million shares in an off-market deal at RM3.89 each.

PNB also acquired 10.37 million warrants in the open market at 90 sen each.

Under its proposed takeover of S P Setia, it had offered RM3.90 per S P Setia share and 91 sen per warrant.

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