TA Enterprise Bhd (+ve)
Trading in the shares of TA Enterprise Bhd (fundamental: 1, valuation: 2.4) triggered our momentum algorithm for the second time this year.
The stock closed half a sen or 0.76% lower at 65.5 sen after 9.3 million shares were traded, compared with its 200-day average volume of 1.22 million shares.
TA Enterprise co-founder and non-executive chairman Datuk Tony Tiah Thee Kian launched a mandatory takeover offer for TA Enterprise on Monday at 66 sen per share after acquiring 14.33 million shares or a 0.84% stake in the stockbroking firm for prices between 61 sen and 66 sen on the open market.
Following the acquisition, Tiah holds a 32.62% stake in TA Enterprise. Together with persons acting in concert with him in the bid, they have 33.08% of the group.