Ideal Jacobs shares up following takeover bid
PETALING JAYA: Shares of Ideal Jacobs (Malaysia) Corp Bhd rose one sen or 3.08% this morning, after the company received an unconditional mandatory takeover offer from Widad Business Group Sdn Bhd (WBGSB) for a cash offer of 23 sen per share yesterday.
At 10.36am, the stock stood at 33.5 sen with 1.05 million shares changing hands. It has a market capitalisation of RM45.85 million.
Ideal Jacobs said the offer comes after WBGSB’s shareholding in the company increased to 92.87% from nil and the collective shareholdings of the offeror and joint ultimate offeror increased to 92.91% from 0.53% following an acquisition.
Source: The Sun Daily