KUALA LUMPUR (June 27): Goldis Berhad’s share price hit a seven-year high today on market talk that the company will be taken private by its major shareholder, the Tan family.
“We heard that there is a general offer for the shares at RM3.00 per share by the Tan family who controls the company,” a senior dealer told theedgemalaysia.com.
“Many people began to buy the stock after hearing the rumour,” added the dealer.
Earlier, BFM89.9 Radio also reported that there was speculation that Goldis was being taken private.
At 3.49 pm today, the stock rose 18 sen or 8% to RM2.39 per share after hitting a high of RM2.42 earlier. This level was last seen in 2007.
As at end-March, 2014, the net asset value per share of the company stood at RM2.87.
The stock, which normally attracted little interest, fetched trades of some 1.51million shares today.
When contacted by theedgemalaysia.com, CEO of Goldis Bhd Tan Lei Cheng declined comment.
According to Goldis Berhad’s website, the company was incorporated in Malaysia on June 1, 2000, and was converted to a public company on 23 November, 2000.
It was renamed Gold IS Berhad on 31 January 2001 and subsequently renamed as Goldis Berhad in 2005.
Goldis assumed the listing status of Tan & Tan Developments Berhad following the merger between Tan & Tan and IGB Corporation Berhad.
As a result of the merger, IGB emerged as one of the largest property company in Malaysia and Goldis became the major substantial shareholder of IGB.
Goldis is now an investment company with private equity investments in Malaysia and China. It focuses on life sciences, water/wastewater treatment, information communications technology (ICT) and organic aquaculture.