This will result in annual interest savings of RM85.02 million, KNM said. Borsig sale not what KNM originally plannedKNM’s proposed sale of Borsig came as a surprise to the market, with the counter down 3.5 sen or 17.95% soon after it resumed trading. Further, the €220.8 million (RM1.03 billion) sale is well below the price tag of €300 million (RM1.47 billion) sought by KNM’s previous board. Recall that KNM bought Borsig for €350 million or RM1.67 billion in 2008. At 3.48pm, KNM shares were down 3.5 sen or 17.95% at 16 sen, giving the group a market capitalisation of RM588.52 million.

Source: The Edge Markets May 25, 2022 06:26 UTC