We mention this great stock called Pertama Holdings that runs the Harvey Norman chain in the past [
Analysis here >>]. First spotted at 47 cents, its majority share holder Harvey Norman Group wants to take it off the market. However it looks like they have failed in their effort.
- Harvey Norman Group raise their stake to a formidable 83.15%
- The recent purchase was done at 65 cents.
- Proposed delisting of Pertama was shot down at an EGM.
- Under SGX rules, the controlling shareholders of PErtama were not required to abstain from voting. The largest minority investor in Pertama is US based fund management Fidelity International, which holds over 22 million shares, or 9.1% of the company. The exit offer lapsed on Sept 26.
- Pertama Shares advance as much as 75 cents on the back of a special 1.4 cents special dividend.
- Revenues remain strong ...
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