KUALA LUMPUR (Jan 9): CAN-ONE BHD [] shares advanced in early trade on Monday after the company won the legal tussle to acquire the 146.13 million KIAN JOO CAN FACTORY BHD [] shares held by Kian Joo Holdings Sdn Bhd after a Federal Court ruled in its favour last Thursday.
At 9.05am, Can-One rose 27 sen to RM1.86 with 2.01 million shares done.
Can-One announced to Bursa Malaysia last Friday that the apex court had allowed its appeal to proceed with the completion of the acquisition of the 32.9% stake for RM241.11 million.
The share price surged on Thursday and Friday despite the Can-One’s reply to a Bursa Securities on Thursday that it was unaware of the unusual market activity.
At 9.05am, Can-One rose 27 sen to RM1.86 with 2.01 million shares done.
Can-One announced to Bursa Malaysia last Friday that the apex court had allowed its appeal to proceed with the completion of the acquisition of the 32.9% stake for RM241.11 million.
The share price surged on Thursday and Friday despite the Can-One’s reply to a Bursa Securities on Thursday that it was unaware of the unusual market activity.
