Malaysia: Malaysia Packaging falls after below market takeover price

  • Aug 08, 2016

Malaysia: Malaysia Packaging falls after below market takeover price

Monday, 1 August 2016 – Shares of Malaysia Packaging Industry Bhd (Maypak) fell to a low of 39 sen on Monday after investors sold on news of an impending takeover at 16.6 sen a share.

At 11.30am, Maypak was down six sen to 39 sen. There were 140,000 shares done.

The FBM KLCI rose 10.24 points or 0.62% to 1,663.50. Turnover was 853.52 million shares valued at RM630.87mil. There were 335 gainers, 262 losers and 307 counters unchanged.

Last Friday, Maypak announced Japan’s Taisei Lamick Co. Ltd had emerged as a major shareholder with nearly 55% and this will see it making a mandatory general offer (MGO) for the remaining stake. Read More?