DRB-Hicom buys 39.9mil Proton shares on open market
DRB-Hicom Bhd has acquired 39.927 million shares in Proton Holdings Bhd representing 7.27 percent of the national automaker’s issued and paid-up share capital.
DRB-Hicom Bhd has acquired 39.927 million shares in Proton Holdings Bhd representing 7.27 percent of the national automaker’s issued and paid-up share capital.
In a filing to Bursa Malaysia today, DRB-Hicom said the shares were bought via open market at prices ranging from RM5.40 to RM5.47 apiece.
Yesterday, it announced a proposed acquisition of 234.735 million shares representing 42.74 percent equity stake in Proton from Khazanah Nasional Bhd for RM1.291 billion or RM5.50 per share and a mandatory general offer (MGO) for the remaining Proton shares.
“Assuming that the proposed acquisition is successfully completed, DRB-Hicom will hold, in aggregate, more than 50 percent of the voting shares of Proton.
“As such, the proposed MGO offer will not be conditional upon acceptances,” DRB-Hicom said.
- Bernama
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