南洋商报 NYSP wrote a post · Sep 12, 2024 16:27

The major shareholder purchases each share at 21.5 cents and deploys it to the gem board.

The major shareholder purchases each share at 21.5 cents and deploys it to the gem board.

The local women's clothing brand (Carlo Rino) listed on the leap board - Carlo Rino. $CRG (03016.MY)$ Receiving the full acquisition proposal from the major shareholder and director Datuk Seri Cheang Fong Yee, to acquire the remaining shares at 21.5 cents per share, mainly to prepare for the transition to the gem board.

Carlo Rino reported today to Bursa Malaysia, receiving a joint full acquisition proposal from Cheang Fong Yee, Cheang Sung Soon, and Freeway Team Private Limited, at a proposed acquisition price of 21.5 cents per share, for the remaining shares of Carlo Rino that are not currently held.

It is worth noting that Cheang Sung Soon is an institutional shareholder and the founder and group executive chairman. $BONIA (9288.MY)$ Cheang Fong Yee is the eldest son of Cheang Sung Soon, who previously served in marketing and corporate development at the institutional shareholder, then resigned from the position of non-independent non-executive director to focus on the Carlo Rino brand.

According to the announcement, the proposing acquirers currently hold 52.39% of the company's shares.

As per the announcement, this proposal is aimed at preparing the company to delist from the leap board and then list on the gem board.

According to the statement, this proposal is made to prepare the company for delisting from the Leap Board and listing on the GEM.

The above acquisition price, compared to the volume-weighted average price (VWAP) of the five-day trading period before the acquisition notification, is discounted by 34.13%.

Meanwhile, compared to the 1-month, 3-month, 6-month, and 12-month VWAP, the discount ranges from 18.53% to 30.69%.

Carlo Rino store (taken from Facebook)

Source of information: Nanyang Business Daily

Disclaimer: This content is for reference and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks and responsibilities resulting from relying on this content. Before making any investment decisions, be sure to conduct your own independent research and evaluation, and consult professional advice when necessary. The author and related participants are not responsible for any losses or damages caused by the use or reliance on the information contained in this article.

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南洋商报 NYSP

Nanyang Siang Pau Official Account

《南洋商报》创立于1923年，是马来西亚历史最悠久的中文报纸之一。以财经及商业新闻为主，是商家与投资者必备的新闻资讯平台。

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