LTKM jumps 16.67% on takeover offer from MD and family

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KUALA LUMPUR (July 23): Shares in LTKM Bhd rose 16.67% this morning after its managing director Datuk Tan Kok and his family offered RM1.35 a share for the remaining shares of the chicken egg producer not owned by them, under a conditional voluntary takeover offer.

At 9.06am, LTKM rose 19 sen to RM1.33 for a market capitalisation of RM173.04 million.

LTKM said the offer price represents a 21.62% premium over its last transacted price of RM1.11 on July 18.

The joint offerors, who hold a total stake of 68.26% of the issued shares, said they do not intend to maintain the company’s listing status on the Main Market of Bursa Malaysia, upon completion of the takeover.