But why 4.9 per cent?
update: Aug. 28 (Bloomberg) -- Khazanah Nasional Bhd., Malaysia's state investment arm, bought 4.9 percent of Pantai Holdings Bhd., the country's operator of private hospitals, a stock exchange filing showed.
Khazanah, through its fully-owned unit Pantai Irama Ventures Sdn., bought 25.3 million Pantai shares from the open market on Aug. 21, the filing said today. The stake is worth 63.5 million ringgit ($17.3 million) based on its last traded price of 2.51 ringgit on Aug. 25. The stock was halted today.
About 4.3 percent of Pantai shares change hands in off- market trades valued at 50.8 million ringgit on Aug. 21.
QUESTION: Why oh Why oh Why suspend the counter when you are buying a mere 4.9 per cent of the company? I may have left Business Times and business reporting for too long. But if anyone can tell me the logic of suspending the counter to buy an insignificant 4.9 per cent of Pantai, please take the floor.
Suspended. Bursa Malaysia has suspended Pantai Holdings. Last traded price RM2.51. Khazanah is likely to buy out the Singaporeans and make them RM300m-RM400m richer.
After that, who gets Pantai?
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