JCCL to acquire remaining Cycle & Carriage shares at RM2.70 each
KUALA LUMPUR: Jardine Cycle & Carriage Ltd (JCCL) has made a new offer of RM2.70 per share to acquire all the remaining ordinary shares in Cycle & Carriage Bintang Bhd (CCB) under its unconditional voluntary takeover.
CIMB Investment Bank Bhd, in a press release today, said the offer price represents a premium of 3.85 per cent or 10 sen over RM2.60, being the closing price of the shares on July 13, 2022, and 20.75 per cent or 46.4 sen of RM2.236 recorded a year ago on a volume-weighted average market price basis.,
In March last year, JCCL made an offer of RM2.40 to acquire all remaining shares not held by the company from RM2.20 previously.
CIMB Investment Bank said CCB has an issued share capital of RM124.6 million comprising 100.74 million shares as at July 12, 2022.
JCCL holds 90.66 million shares, which translates to an 89.99 per cent stake in CCB. - Bernama