Continue reading this on our app for a better experience

Open in App

KL-listed Yong Tai's ED Boo takes control of Sunrise Shares Holdings

The Edge Singapore
The Edge Singapore • 1 min read
KL-listed Yong Tai's ED Boo takes control of Sunrise Shares Holdings
Boo, an executive director of KL-listed Yong Tai / Photo: The Edge Malaysia
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Boo Kuang Loon, an executive director of Bursa-listed Yong Tai Berhad, has paid $1.5 million for 32.97% of Sunrise Shares Holdings 581 -

, paying 2.17 cents per share to Sunrise Wealth Management.

Sunrise Shares, which used to be called ITE Electric, last traded at 3.5 cents.

As Boo now owns more than 30%, the general offer requirement has been triggered. Under this mandatory offer, Boo is offering 2.18 cents per share to the remaining shareholders.

According to RHT Capital, which is arranging this deal, the offer is final and Boo doe not intend to revise his offer.

Boon plans to undertake a review of the business of Sunrise Shares, and see which parts of the existing operations ought to be sold and which others to further invest in.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.