The new price is an 8.11% increase over the initial offer price of 37 cents per share. It also exceeds all the previous closing prices of the shares in the nine-year period up to and including May 12.
Sanjuro, the consortium formed by Hwa Hong Corporation’s substantial shareholders, has raised its offer price to 40 cents per offer share.
The consortium was formed to acquire the remaining shares from Hwa Hong’s minority shareholders.
