Eng Teknologi rises on takeover offer

At 9:20am, Eng Teknologi rose six sen to RM2.34 with 711,000 shares traded. It is believed that its shares rose
after its major shareholders, who own 23.21% of the Penang-based company, made a takeover offer of the remaining shares in a RM307 million corporate exercise.

TYK Capital Sdn Bhd had offered to acquire the entire business and undertakings (including all the assets and liabilities), for RM2.50 per share. (theedgemalaysia.com)