KUALA LUMPUR, June 20 ― Gamuda Bhd shares on Bursa Malaysia were slightly higher, in early trade, after Permodalan Nasional Bhd (PNB) accepted its improved offer price to acquire a 20 per cent stake in Kesas Holdings Bhd.
At 9.31am, the counter was one better at RM4.52, after opening three sen higher at RM4.54 with 44,400 shares changing hands.
It was reported yesterday that Gamuda offered to buy the stake at RM3.08 per share or RM290 million, cash, increasing the group's stake in the highway operator to 70 per cent.
Gamuda also revised its offer upwards to both remaining shareholders of the company, namely PNB and the Selangor State Development Corp to RM3.08 per share from RM2.97 per share offerd at end-May.
However, Gamuda said PKNS, which holds the remaining 30.0 per cent stake in Kesas, had not accepted the offer. ― Bernama
