KUALA LUMPUR (March 22): AIC CORPORATION BHD []’s 17.74 million shares were transacted in several off-market deals on Thursday at an average price of RM1.40.
Stock market data showed the shares accounted for 10.2% of its paid-up of 173.87 million shares. The transaction price was 10 sen below Wednesday’s closing price of RM1.50.
AIC shares were untraded at 2.45pm.
In the latest corporate development, precision metal stamping company JOTECH HOLDINGS BHD [] had received shareholders approval for its merger with affiliates AIC Corp Bhd and AutoV Corp Bhd.
Jotech chairman Datuk Goh Tian Chuan controls Temasek Formation Bhd (TFB), which was given the green light by the Securities Commission (SC) to merge Jotech, AIC and AutoV.
TFB is expected to be listed in place of the three companies with a market capitalisation of RM791.6 million.
To recap, TFB had received the Securities Commission’s approval in January 2012 for the proposed merger via the issuance of new TFB shares.
Stock market data showed the shares accounted for 10.2% of its paid-up of 173.87 million shares. The transaction price was 10 sen below Wednesday’s closing price of RM1.50.
AIC shares were untraded at 2.45pm.
In the latest corporate development, precision metal stamping company JOTECH HOLDINGS BHD [] had received shareholders approval for its merger with affiliates AIC Corp Bhd and AutoV Corp Bhd.
Jotech chairman Datuk Goh Tian Chuan controls Temasek Formation Bhd (TFB), which was given the green light by the Securities Commission (SC) to merge Jotech, AIC and AutoV.
TFB is expected to be listed in place of the three companies with a market capitalisation of RM791.6 million.
To recap, TFB had received the Securities Commission’s approval in January 2012 for the proposed merger via the issuance of new TFB shares.
