$Taiwan Semiconductor (TSM.US)$
10% today? cough*
10% today? cough*
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BioMarin's CEO, Alexander Hardy, expressed confidence in Hubbard's leadership and expertise in lifecycle management and delivering growth across multiple therapeutic areas. He anticipates that her deep experience in the biopharmaceutical industry will add to the talent within the organization.
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Business activities faced market resistance, both PBBANK and LPI fell 3% in the morning session.
(Kuala Lumpur, 11th) The market has a negative view of Public Bank. $PBBANK (1295.MY)$ and RHB $LPI (8621.MY)$The corporate activities announced yesterday resulted in both stocks opening significantly lower, decreasing by around 3%.
As of 9:30 am, Public Bank reported at 4.42 ringgit, down 15 cents or 3.28%, lingering at a low level in the morning session.
The stock price of Luen Peng, which was acquired at a low price, fluctuated more intensely, dropping 38 cents or 2.92% to 12.62 ringgit as of 9:30 am.
Public Bank and Luen Peng suspended trading for two days before announcing the acquisition plan yesterday. Public Bank offered 1.7 billion ringgit to acquire 44.15% of Luen Peng's shares from the family of the late Tan Sri Teh Hong Piow, the founder and major shareholder of both companies.
The acquisition price of 9.80 ringgit per share is 25% cheaper than the market price, triggering market resistance.
On the other hand, the Lim family also announced a gradual reduction of their shareholding in Public Bank to 10% over the next 5 years to comply with national regulations.
According to the annual report of banks, the Zheng family currently holds 21.64% of the banks' shares; the 11.64% of shares that have been sold will be worth more than 10 billion ringgit.
Source of information: Nanyang Siang Pau
Disclaimer: This content is for reference and education purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks caused by relying on this content themselves...
(Kuala Lumpur, 11th) The market has a negative view of Public Bank. $PBBANK (1295.MY)$ and RHB $LPI (8621.MY)$The corporate activities announced yesterday resulted in both stocks opening significantly lower, decreasing by around 3%.
As of 9:30 am, Public Bank reported at 4.42 ringgit, down 15 cents or 3.28%, lingering at a low level in the morning session.
The stock price of Luen Peng, which was acquired at a low price, fluctuated more intensely, dropping 38 cents or 2.92% to 12.62 ringgit as of 9:30 am.
Public Bank and Luen Peng suspended trading for two days before announcing the acquisition plan yesterday. Public Bank offered 1.7 billion ringgit to acquire 44.15% of Luen Peng's shares from the family of the late Tan Sri Teh Hong Piow, the founder and major shareholder of both companies.
The acquisition price of 9.80 ringgit per share is 25% cheaper than the market price, triggering market resistance.
On the other hand, the Lim family also announced a gradual reduction of their shareholding in Public Bank to 10% over the next 5 years to comply with national regulations.
According to the annual report of banks, the Zheng family currently holds 21.64% of the banks' shares; the 11.64% of shares that have been sold will be worth more than 10 billion ringgit.
Source of information: Nanyang Siang Pau
Disclaimer: This content is for reference and education purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks caused by relying on this content themselves...
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