Eastern Pacific Industrial Corp (EPIC), a Malaysian oil and gas services provider, climbed to a 30-month high in Kuala Lumpur trading after a local financial weekly said Terengganu Inc plans to buy out the company.
The stock rose 7 per cent to RM2.26 at 10.24 am local time, set for its highest close since January 21, 2008.
Terengganu Inc, which has a 40.1 per cent stake in Eastern Pacific, is planning to buy the shares it doesn't already own in the company to take it private, the newspaper reported on August 7, citing unidentified people familiar with the plan. - Bernama
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