Bremworth (NZE:BRW) said the level of acceptances received under a partial takeover offer made by Mangawhai Collective reached 20.92% as of the end of Thursday, according to a Friday filing with the New Zealand bourse.
Mangawhai is looking to acquire about 43.9% of the Bremworth ordinary shares that it does not already own.
Shares of Bremworth rose nearly 1% in recent Friday trade.