From the announcement, HWGB mentioned that they wish to maintain HWGB's listing status. To do so, they at most will acquire 75% of share (which they still need to acquire 25% more) to maintain at least 25% of public spread. HWGB knows the actual value of the share is far exceed current price, and the increase of their shareholding, will make them easier to push up the price (if they own 75% of shareholding).
Stock: [HWGB]: HO WAH GENTING BHD
2020-05-14 13:52 | Report Abuse
From the announcement, HWGB mentioned that they wish to maintain HWGB's listing status. To do so, they at most will acquire 75% of share (which they still need to acquire 25% more) to maintain at least 25% of public spread. HWGB knows the actual value of the share is far exceed current price, and the increase of their shareholding, will make them easier to push up the price (if they own 75% of shareholding).