Privatisation of ASC is coming to an end. It has cost Advance Synergy Berhad (ASB) around RM28 million to privatise.
ASB announced that they have received a call option from ACE Insurance to offer to buy their share in ACE Synergy Berhad (49% owned by ASC) for a cash consideration of RM117 million.
RM28 million vs RM117 million
A coincidence?
A year long planning?
Poor minority shareholders of ASC, after surrender their share at RM0.60 per share (NA of ASC was reported to be around RM2 per share) to ASB and realised that they've got a ride from major shareholder - ASB.
So, this is the game of capital. Minority shareholders? watch out!
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