KUALA LUMPUR (April 26) : SEG INTERNATIONAL BHD [] fell as much as 5% on updates that its major shareholders made a takeover offer for the remaining shares in the higher-education provider.
Shares of SEG declined nine sen to RM1.72 before trading higher at RM1.74 at 11.45am with some 900,000 shares done.
Private equity firm Navis Capital has made a takeover offer for the remaining shares it does not own in SEG. This follows a shareholders’ agreement between Navis and SEG managing director Datuk Seri Clement Hii Chii Kok, who is also the single-largest shareholder in the education entity.
This has, in turn, triggered a mandatory general offer obligation for the remaining stake in SEG. Navis which already owns 27.84% in SEG is offering RM 1.714 for each share and RM1.214 for each warrant in the higher education firm.
Shares of SEG declined nine sen to RM1.72 before trading higher at RM1.74 at 11.45am with some 900,000 shares done.
Private equity firm Navis Capital has made a takeover offer for the remaining shares it does not own in SEG. This follows a shareholders’ agreement between Navis and SEG managing director Datuk Seri Clement Hii Chii Kok, who is also the single-largest shareholder in the education entity.
This has, in turn, triggered a mandatory general offer obligation for the remaining stake in SEG. Navis which already owns 27.84% in SEG is offering RM 1.714 for each share and RM1.214 for each warrant in the higher education firm.
