Petronas, which owns a 62.67% stake in MISC. is offering MYR5.30 per share for the remaining shares in the shipping company it does not already own. The offer represents a 27.1% premium on the three-month average traded price of MISC’s shares and a 18.04% premium on its last trade price of MYR4.49 per share.
However, MISC’s shares have fallen sharply in the last two years and were trading has high the MYR8 per share mark in mid-2011.
Petronas said should its offer be successful it does not plan to maintain the listed status of the shipping company.
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