KUALA LUMPUR (Jan 25): Paragon Union Bhd s share price pared gains in afternoon trades today after rising 30 sen or 30.93% to hit limit up at its record high of RM1.27 as investors weighed news on the emergence of AKK Capital Sdn Bhd, which is owned by Koon Hoi Chun, as a new controlling shareholder of carpet manufacturer Paragon Union.
On Bursa Malaysia, Paragon Union s share price pared gains at RM1.17 at 3.10pm after rising to RM1.27 this morning on news that Koon via AKK is buying a 60.41% stake in Paragon Union from major shareholders in an off-market deal which led to a planned unconditional mandatory takeover offer from the buyer to acquire the remaining shares in Paragon Union at 55 sen each.