Hovid despatches takeover offer documents
KUALA LUMPUR: Hovid Bhd has despatched the offer documents in relation to the conditional voluntary takeover offer by the joint offerors Fajar Astoria Sdn Bhd and Ho Sue San @ David Ho Sue San to the shareholders and warrant holders.
In a filing with Bursa Malaysia yesterday, Hovid said the offer involved the joint offerors’ plan to acquire all the remaining ordinary shares and warrants of the company not already held by them for a cash offer price of 38 sen per offer share and 20 sen per offer warrant.
“The offer documents are available on Bursa’s website at www.bursamalaysia.com,” it said.
It said the offer would be opened for acceptances until 5pm on Nov 20, 2017 unless extended.
At 3pm yesterday, 700,900 company were transacted.
Previously, its managing director Ho Sue San, who is also the largest shareholder, has teamed up with Asean-focused private equity group, TAEL Partners, to take the pharmaceutical firm private. — Bernama shares of the