KLSE (MYR): DRBHCOM (1619)
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Last Price
0.99
Today's Change
+0.01 (1.02%)
Day's Change
0.98 - 0.99
Trading Volume
1,295,900
2024-11-26
2024-11-26
2024-11-26
2024-11-25
2024-11-22
2024-11-22
2024-11-22
2024-11-22
2024-11-22
2024-11-21
2024-11-19
abc333
1,537 posts
Posted by abc333 > 5 days ago | Report Abuse
KUALA LUMPUR (Sept 8): The proposed selective capital reduction (SCR) and privatisation of MMC Corp Bhd by tycoon Tan Sri Syed Mokhtar Albukhary are deemed not fair, but reasonable, said independent adviser Alliance Investment Bank Bhd.
In the company's circular on the exercise today, Alliance said the SCR is "not fair" as the offer price of RM2 per share is lower than the estimated value of between RM3.32 and RM3.41.
However, the adviser is of view that the proposal is "reasonable" on grounds that MMC shares had not traded above the offer price for three years before the proposal was announced on June 3.
The highest open market price in the period was RM1.55 in July 2018, while the lowest was 46.5 sen in March this year