KUALA LUMPUR: Johan Holdings Bhd chairman Tan Sri Tan Kay Hock via Mustika Manis Sdn Bhd has acquired an additional 2.41 per cent stake in the former for RM3.75 million.
This has triggered a mandatory takeover offer to buy the rest of the shares not already owned by Tan.
Tan or Mustika Manis which previously owned 45.76 per cent in Johan within the last six months, has offered to acquire the remaining shares at 25 sen per share, 1.96 per cent discount from the last traded price of 25.5 sen.
In a takeover offer letter to Johan, Mustika Manis said it aims to maintain the listing status of Johan on the main market of Bursa Malaysia.