Supermax Corp Bhd
announced yesterday it is buying a 17% stake in Seal Polymer Industries Bhd for RM33.6mil, or RM1.40 a share, to gain entry into the high-end segment of the latex glove industry and further expand its market.
“Supermax will be the single largest shareholder of Seal Polymer and will assume immediate board and management control of Seal Polymer,'' Supermax said in a statement. (The public shareholding in Seal Polymer is 45.68%, while local institutions own 33%.)
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