Small cap industrial holding company Winhold’s share price jumped 30% to R1.17 on Friday after announcing it had received a buyout offer at R1.25 a share.
Winhold, the owner of Gundle Plastics and Inmins, said it received an offer from unlisted Wafima Manufacturing and Distribution to buy it for cash. The R1.25 per share offer values Winhold at R158m.
Investors owning 68% of Winhold’s shares in issue have already accepted the offer, Friday’s statement said.
Winhold is scheduled to release its interim results for the six months to end-March on Monday. It said in a trading statement on May 15 it expected to report headline earnings per share grew in the range of 275% and 281%, or between 6c and 6.1c, from the matching period’s 1.6c.