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Hwang Capital up 18% on buyout offer from its chairman
DBS is a key shareholder with about 24%; offer price is some 20% more than the last traded price of RM2.21
Add BT as a preferred sourcePublished Tue, May 24, 2016 · 09:50 PM
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Kuala Lumpur
HWANG Capital (Malaysia) Bhd leapt nearly 18 per cent to RM2.60 on Tuesday after its chairman Hwang Lip Teik offered RM2.65 cash per share or some RM469 million (S$157.6 million) in a bid to take the money lender private.
Mr Hwang's offer to privatise the company of which DBS Bank is a key shareholder, provided a momentary spark to the market which has slipped about 5.5 per cent in the past month on lacklustre interest and foreign selling.
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