KUALA LUMPUR (Jan 17): PROTON HOLDINGS BHD [] and DRB-HICOM BHD [] shares were actively traded on Tuesday after Khazanah Nasional Bhd finally put an end to months of speculation and announced it was divesting its 42.72% Proton stake to DRB-Hicom for RM5.50 per share or RM1.291 billion cash.
Proton and DRB-Hicom resumed trading after a one-day suspension.
At 9.02am, Proton jumped 24 sen to RM5.42 with 11.41 million shares done while DRB-Hicom added 2 sen to RM2.19 with 1.52 million shares done.
Upon completion of the sale and purchase agreement, DRB-Hicom will be obliged to undertake a mandatory general offer on the remaining Proton shares.
Proton and DRB-Hicom resumed trading after a one-day suspension.
At 9.02am, Proton jumped 24 sen to RM5.42 with 11.41 million shares done while DRB-Hicom added 2 sen to RM2.19 with 1.52 million shares done.
Upon completion of the sale and purchase agreement, DRB-Hicom will be obliged to undertake a mandatory general offer on the remaining Proton shares.
