KUALA LUMPUR: Shares of LCTH Corp Bhd surged more than 27% in early trade Friday after major shareholder of LCTH offered to take the company private. The company surged 27.27%, or 12 sen to 56 sen with over 1.26 million shares traded. LCTH’s major shareholder Fu Yu Investment Pte Ltd has launched a bid to take the precision plastic parts manufacturer private through a selective capital reduction (SCR) and cash repayment of RM61.31mil, or 58 sen per share, amid a challenging business landscape. Fu Yu, which owns 254.3 million shares or 70.64% shareholding in LCTH, and the parties acting in concert in the proposed exercise, collectively hold 258.66 million or 71.84% in the company. The 58 sen offer price is a 32% premium to LCTH's closing price of 44 sen yesterday.

Source: The Star December 08, 2017 01:07 UTC