Century Logistics executive director Edwin Yeap:
KUALA LUMPUR: Century Logistics Holdings Bhd's share price closed at 96.5 sen on Thursday after CJ Korea Express Asia Pte Ltd bought a 31.44% stake at RM1.45 a share but did not extend the offer to minority shareholders.
The premium at which CJ Korea was buying the 120.54 million shares from Datuk Phua Sin Mo, Datin Lee Lay Hun, Pamela Phua Jo Lyn and Chai Mee Young, was 40.5% above Wednesday's closing price of RM1.03.
Century Logistics' share price fell to a 94 sen when it resumed trading in the afternoon session on Thursday. There were 44.02 million shares done at prices ranging from 94 sen to RM1.04.
CJ Korea Express Asia is a member company of CJ Korea Express Corporation (CJKX), the largest logistics provider in Korea with a diversified business portfolio offering integrated logistics solutions to both local and global customers.
CJKX, which is listed on the Korea Exchange, has a market capitalisation of 4.5 trillion won (about US4.1bil) and global revenues of 5.1 trillion won (US$4.6bil) for financial year ended Dec 31, 2015. CIMB Investment Bank Bhd is the financial adviser to CJKX for this transaction.
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