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Published: Wednesday August 29, 2012 MYT 10:49:00 AM
Bonia shares fall as takeover offer below market price
KUALA LUMPUR: Shares of Bonia Corp Bhd fell on Wednesday as investors were disappointed with group executive chairman cum CEO Chiang Sang Sem's takeover offer at RM2.04 cash per share.
At 10.28am, Bonia was down 10 sen to RM2.48 with 15,200 shares done.
The FBM KLCI was up 2.23 points to 1,649.34. Turnover was 327.94 million shares valued at RM189.97mil. There were 229 gainers, 201 losers and 275 counters unchanged.
On Tuesday, Ciang and parties acting on concert extended an unconditional mandatory take-over offer for the remaining 49.83% stake or 100.44 million shares not held at RM2.04 cash per share.
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