KUALA LUMPUR (Jan 17): Just a day after DRB-HICOM BHD [] emerged as the successful bidder for Khazanah Nasional Bhd’s 42.7% stake in PROTON HOLDINGS BHD [], it was actively buying up the Proton shares from the open market.
DRB-Hicom said on Tuesday that it had bought 39.927 million Proton shares or a 7.27% stake via open market at prices ranging from RM5.40 to RM5.47 per share.
“Assuming that the proposed acquisition is successfully completed, DRB-Hicom will hold, in aggregate, more than 50% of the voting shares of Proton. As such, the Proposed MGO will not be conditional upon acceptances,” it said.
On Monday, Khazanah announced that it had agreed to dispose of its Proton stake, comprising of 234.73 million shares, to DRB-Hicom for a total consideration of RM1.291 billion or RM5.50 per share.
Proton share price rose 23 sen to RM5.14 and there were 57.45 million shares done.
DRB-Hicom said on Tuesday that it had bought 39.927 million Proton shares or a 7.27% stake via open market at prices ranging from RM5.40 to RM5.47 per share.
“Assuming that the proposed acquisition is successfully completed, DRB-Hicom will hold, in aggregate, more than 50% of the voting shares of Proton. As such, the Proposed MGO will not be conditional upon acceptances,” it said.
On Monday, Khazanah announced that it had agreed to dispose of its Proton stake, comprising of 234.73 million shares, to DRB-Hicom for a total consideration of RM1.291 billion or RM5.50 per share.
Proton share price rose 23 sen to RM5.14 and there were 57.45 million shares done.
