Saturday, July 17, 2010

Titan GO @ RM2.35

Korean-based Honam Petrochemical Corporation will undertake a GO on Titan's remaining 27.68% stakes at RM2.35 per share.

This follows the completion of the acquisition of the 72.32% stakes from PNB-linked (35.04%), Union Harvard Investments S.R.L (31.62%), CGDC Inv (5.40%) and James & Albert Chao (0.26%).

At RM2.35 per share, this represents a 27% premium to its last closing price of RM1.85 and 33% above its IPO price of RM1.77.

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