Asia
Tong Herr Receives MYR2.55-Per-Share Privatization Proposal
Tong Herr Resources (KLSE:TONGHER) received a proposal from its major shareholders, Allrich Corp and Richard Holdings Limited, to privatize the company through a selective capital reduction and repayment exercise, according to a Friday Malaysian bourse filing.The proposal offers 2.55 ringgit in cash for each share held by shareholders other than the joint offerors, their ultimate owners and parties acting in concert with them.Tong Herr said its non-interested directors will review the proposal and announce their decision later.Shares of the fastener manufacturer surged 26% in recent trade.
KLSE:TONGHER
