PETALING JAYA: Kuala Lumpur Kepong Bhd’s announcement that it is acquiring a major stake in Boustead Plantations Bhd has given the latter’s share price a boost.
About 115 million shares changed hands today, compared with 34.46 million shares traded on Wednesday. MIDF Research said KLK’s proposition was in line with its longstanding strategy to bolster its involvement in the upstream sector. It added that the proposed deal would translate into an enterprise value of about RM55,009 per hectare for the planted 72,291 ha.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: