KUALA LUMPUR: Titan Chemicals Corp Bhd's share price surged in early trade on Monday, July 19 after South Korea's Honam Petrochemical Corp launched a takeover of Titan, to acquire the remaining 72.32% stake or 1.249 billion shares for RM2.93 billion or RM2.35 a share.

At 9.18am, Titan jumped 34 sen to RM2.19 with 18.2 million shares done.Its major shareholders Union Harvard Investments S.R.L, CGDC Investments Corporation, Permodalan Nasional Bhd and AmanahRaya Trustees Bhd had signed agreements to sell their collective stakes to Honam.