KUALA LUMPUR (Dow Jones)--KNM Group Bhd. (7164.KU) said Thursday that it has received a buyout offer of 90 sen a share from a company controlled by its managing director and founding shareholder, Lee Swee Eng.

The offer is at a 20% premium to KNM shares' closing price of 75 sen.

The maker of process equipment for the oil and gas industry said in a stock exchange filing that BlueFire Capital Group Ltd., an entity controlled by Lee, plans to acquire KNM's entire business and undertakings.

KNM said the proposal is subject to "satisfactory completion of due diligence, receipt of firm financing commitments, and negotiation and execution of definitive documentation."

BlueFire has been granted a limited exclusivity period up to March 22 to complete its due diligence and satisfy the other conditions, the company said.

BlueFire is acting in collaboration with GS Capital Partners VI Fund L.P and Mettiz Capital Ltd. and the international adviser on the deal is Goldman Sachs (Singapore) Pte., KNM said

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OMGOMGOMG~~ KNM BIG news !!!!!~~~ tomorrow KNM will hit 0.90 in no time!!!!!!  KNM's CNY ang pow ?

Congrats to anyone who bought KNM Below 0.90!!!!!  anyone bought today will auto untung 15cents... wahhhhh
No chance to goreng already... will probably open 0.895 cents tomorrow morning...

hmm talking about KNM... i had a look on KNM's babies...

I dont know whether IBs who offered CWs will adjust the Exercise price or ratio since KNM made the announcement.. I hope yes.. coz if not... many ppl will get burned...

here are my findings:

KNM-CB
Last Traded: 0.065
Exercise Price: 0.85
Exercise Ratio: 2:1

Lowest Since Listing: 0.55
CB price to exercise at 90c: 0.025

Potential losees if you bought at lowest: 45.5%

KNM-CC
Last Traded: 0.095
Exercise Price: 0.75
Exercise Ratio: 2:1

Lowest Since Listing: 0.09
CC price to exercise at 90c: 0.075

Potential losees if you bought at lowest: 16.7%

KNM-CD
Last Traded: 0.095
Exercise Price: 0.80
Exercise Ratio: 1:1

Lowest Since Listing: 0.185
CD price to exercise at 90c: 0.10

Potential losees if you bought at lowest: 45.9%

KNM-HA
Put warrant... I dunno how to count gain/loss 

*All the babies should still be alive when the privatisation exercise finishes
*I apologize first if my calculations are wrong.. i'm newbie 
*While mothershare holders are rejoicing, warrant holders are shivering now... 

No, Cws, or put warrant won't adjust their exercise price due to the announcement. They are not related, as CW, HW are warrant issued by third party, not related at all to the company.

All the babies won't be alive if privatisation exercise finishes, as KNM share no longer in the market or listed, if the privatisation completed. What's for those babies in the market if mother is no there anymore.

There is always clause in the CWs, whenever if the mothershare underlying no longer exist or whatever issue, they had set up rule how to deal with it. Can be final exercise based on privatisation price, or whatever they had put up prior before hand.

If the privatisation price is proposed at 0.90. Probably market fair price should be around 0.85, as it doesn't make sense for anyone to buy beyond or even at 0.90 if privatisation has strong possibilities go through, unless investors 0.90 is huge undervalued and don't want to sell at 0.90 for privatisation plan to go through.

like what GregPG01 analyst, a sudden spike of volume on yesterday due to the news, today/tomorrow could be a good chance to buy. 

anyone got this research paper? Thanks! 

Not yet out. Please wait yea. 

wanna topup more?

seems like ppl still don't believe Mr Lee.

DJ MARKET TALK:KNM Group +9.3%; Buyout Offer By Managing Director   
 
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0248 GMT [Dow Jones] KNM Group (7164.KU) last +9.3% at 82 sen after BlueFire Capital controlled by MD Lee Swee Eng offers to buy out of oil and gas services provider at 90 sen/share. "The stock could rise further to test 90 sen on arbitrage opportunity," says dealer. But AmResearch analyst Alex Goh says while there's a possibility that KNM's share price could move towards the 90 sen/share offer, "we are uncertain this offer will be realized"; adds spoke to KNM's management "and they seemed as surprised as us." Keeps Hold call with unchanged 82 sen target, pegged to a FY10 P/E of 13X, a 7% discount to KNM's 3-year average P/E of 14X, pending further details on offer.(ECH)

JCY IPO by HLe..

anyone interested??

Hahaha

This one ah.....many bad experiences.
I thought of entering at 7.00, den decided 6.90 would be better. Now 6.7x. I think I will wait...

tarak! But it is in my watchlist. Since Latexx will be annoucing their results today, I'm hoping Latexx will bring other gloves counter back to green.

CI get redder.  Result of 30 index stocks kena dump. Out of 30 counters, only Digi and Plus green.  The rest red red.